Ishares Edge Msci Europe Momentum Factor ETF Forecast
Ishares Edge Msci Europe Momentum Factor ETF upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Ishares Edge Msci Europe Momentum Factor ETF price gained 0.713% on the last trading day (Wednesday, 26th Jun 2024), rising from £946.10 to £952.85. During the last trading day the ETF fluctuated 0.110% from a day low at £951.80 to a day high of £952.85. The price has been going up and down for this period, and there has been a -1.1% loss for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately £2.09 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.52% during the next 3 months and, with a 90% probability hold a price between £977.78 and £1,022.12 at the end of this 3-month period.
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IEFM.L Signals & Forecast
The Ishares Edge Msci Europe Momentum Factor ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £949.75 and £952.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.47%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ishares Edge Msci Europe Momentum Factor ETF
Ishares Edge Msci Europe Momentum Factor finds support from accumulated volume at £948.30 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 £1.05 between high and low, or 0.110%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: £903.16 (-5.21%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (IEFM.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Ishares Edge Msci Europe Momentum Factor Ucits Etf to open at £952.50, and during the day (based on 14 day Average True Range), to move between £941.12 and £964.58, which gives a possible trading interval of +/-£11.73 (+/-1.23%) up or down from last closing price. If Ishares Edge Msci Europe Momentum Factor Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £954.85 (0.21%) than the support at £948.30 (0.48%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ishares Edge Msci Europe Momentum Factor Ucits Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ishares Edge Msci Europe Momentum Factor ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.047 Buy Candidate Upgraded
Predicted Opening Price for Ishares Edge Msci Europe Momentum Factor Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £952.50 ( 0.0366%) | £952.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEFM.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 953.55 | 0.0733% |
| R2 | 953.15 | 0.0313% |
| R1 | 952.90 | 0.0053% |
| Price | 952.85 | |
| S1 | 952.10 | -0.0786% |
| S2 | 951.85 | -0.105% |
| S3 | 951.45 | -0.147% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 960.30 | 0.782% |
| R2 | 956.45 | 0.378% |
| R1 | 954.85 | 0.210% |
| Price | 952.85 | |
| S1 | 948.30 | -0.477% |
| S2 | 926.50 | -2.77% |
| S3 | 917.70 | -3.69% |
FAQ
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