iShares S&P Global Clean Energy Index ETF Forecast
Red day on Tuesday for iShares S&P Global Clean Energy Index
(Updated on Jul 02, 2024)
The iShares S&P Global Clean Energy Index ETF price fell by -0.376% on the last day (Tuesday, 2nd Jul 2024) from $13.31 to $13.26. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.82% from a day low at $13.18 to a day high of $13.42. The price has fallen in 7 of the last 10 days and is down by -6.09% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 million shares and in total, 2 million shares were bought and sold for approximately $28.57 million.
Given the current short-term trend, the ETF is expected to rise 6.54% during the next 3 months and, with a 90% probability hold a price between $14.13 and $16.39 at the end of this 3-month period.
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ICLN Signals & Forecast
There are few to no technical positive signals at the moment. The iShares S&P Global Clean Energy Index ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.60 and $14.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -12.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for iShares S&P Global Clean Energy Index ETF
iShares S&P Global Clean Energy Index finds support from accumulated volume at $13.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.240 between high and low, or 1.82%. For the last week, the ETF has had daily average volatility of 1.75%.
iShares S&P Global Clean Energy Index is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICLN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect iShares S&P Global Clean Energy Index Fund to open at $13.28, and during the day (based on 14 day Average True Range), to move between $12.99 and $13.53, which gives a possible trading interval of +/-$0.269 (+/-2.03%) up or down from last closing price. If iShares S&P Global Clean Energy Index Fund takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.23 (0.23%) than the resistance at $13.77 (3.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares S&P Global Clean Energy Index Fund ETF A Buy?
The iShares S&P Global Clean Energy Index ETF holds several negative signals and despite the positive trend, we believe iShares S&P Global Clean Energy Index will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.176 Sell Candidate Unchanged
Predicted Opening Price for iShares S&P Global Clean Energy Index Fund of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $13.28 ( 0.176%) | $13.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICLN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.52 | 1.99% |
| R2 | 13.43 | 1.29% |
| R1 | 13.38 | 0.87% |
| Price | 13.26 | |
| S1 | 13.19 | -0.515% |
| S2 | 13.14 | -0.94% |
| S3 | 13.04 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.08 | 13.73% |
| R2 | 13.85 | 4.45% |
| R1 | 13.77 | 3.85% |
| Price | 13.26 | |
| S1 | 13.23 | -0.226% |
| S2 | 13.06 | -1.51% |
| S3 | 13.02 | -1.81% |
ICLN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.123 | 0.785% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.125 | 0.668% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.0360 | 0.178% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.140 | 0.750% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 05, 2022 | $0.0120 | 0.0599% |
FAQ
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