iShares Ultra Short-Term Bond ETF Forecast

iShares Ultra Short-Term Bond ETF downgraded to Sell Candidate
(Updated on May 03, 2024)

ICSH Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.0894%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Ultra Short-Term Bond 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 $50.43 and $50.43. A break-up above any of these levels will issue buy signals.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 0.0700% to $50.40 within 22 trading days since signal was issued (Monday, May 06, 2024).

Support, Risk & Stop-loss for iShares Ultra Short-Term Bond ETF

iShares Ultra Short-Term Bond finds support from accumulated volume at $50.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0200 between high and low, or 0.0397%. For the last week the ETF has had daily average volatility of 0.0476%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ICSH) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect iShares Ultra Short-Term Bond ETF to open at $50.37, and during the day (based on 14 day Average True Range), to move between $50.32 and $50.40, which gives a possible trading interval of +/-$0.0388 (+/-0.08%) up or down from last closing price. If iShares Ultra Short-Term Bond ETF takes out the full calculated possible swing range there will be an estimated 0.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $50.35 (0.02%) than the resistance at $50.39 (0.06%), 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 Ultra Short-Term Bond ETF ETF A Buy?

iShares Ultra Short-Term Bond holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.734 Sell Candidate Downgraded

Predicted Opening Price for iShares Ultra Short-Term Bond ETF of Monday, May 6, 2024

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