iShares S&P Global Clean Energy Index ETF Forecast

iShares S&P Global Clean Energy Index ETF upgraded to Buy Candidate.
(Updated on May 24, 2024)

ICLN Signals & Forecast

Mostly positive signals in the chart today. The iShares S&P Global Clean Energy Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.44 and $13.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 14.59%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The ETF had a Golden Star Signal on Wednesday, March 06, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for iShares S&P Global Clean Energy Index ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $13.91 and $13.74. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares S&P Global Clean Energy Index finds support just below today's level at $13.91. If this is broken, then the next support from accumulated volume will be at $13.74 and $13.23.

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 $0.370 between high and low, or 2.54%. For the last week, the ETF has had daily average volatility of 2.30%.

Our recommended stop-loss: $14.39 (-3.54%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (ICLN) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect iShares S&P Global Clean Energy Index Fund to open at $14.82, and during the day (based on 14 day Average True Range), to move between $14.64 and $15.20, which gives a possible trading interval of +/-$0.280 (+/-1.88%) 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 3.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $13.91, some $1.01 (6.77%) from the current price of $14.92, our system finds the risk reward attractive.

Is iShares S&P Global Clean Energy Index Fund ETF A Buy?

Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for iShares S&P Global Clean Energy Index ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.604 Buy Candidate Upgraded

Predicted Opening Price for iShares S&P Global Clean Energy Index Fund of Tuesday, May 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.