iShares Convertible Bond ETF Forecast

Stronger technical forecast for iShares Convertible Bond ETF price after Thursday trading.
(Updated on Apr 18, 2024)

ICVT Signals & Forecast

There are few to no technical positive signals at the moment. The iShares Convertible 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 $77.42 and $78.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -4.43%. 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. The ETF had a Golden Star Signal on Thursday, May 11, 2023 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 Convertible Bond ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $0.590 between high and low, or 0.772%. For the last week the ETF has had daily average volatility of 0.89%.

iShares Convertible Bond is oversold on RSI14 (17). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $72.61 (-5.10%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (ICVT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect iShares Convertible Bond ETF to open at $76.64, and during the day (based on 14 day Average True Range), to move between $75.93 and $77.09, which gives a possible trading interval of +/-$0.583 (+/-0.76%) up or down from last closing price. If iShares Convertible Bond ETF takes out the full calculated possible swing range there will be an estimated 1.52% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $76.62, some $0.110 (0.14%) from the current price of $76.51, our system finds the risk reward not very attractive.

Is iShares Convertible Bond ETF ETF A Buy?

iShares Convertible Bond holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.691 Hold/Accumulate Upgraded

Predicted Opening Price for iShares Convertible Bond ETF of Friday, April 19, 2024

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