Ishares Edge Msci Europe Momentum Factor ETF Forecast
Ishares Edge Msci Europe Momentum Factor ETF upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Ishares Edge Msci Europe Momentum Factor ETF price fell by -0.797% on the last day (Friday, 28th Jun 2024) from £952.85 to £945.25. During the last trading day the ETF fluctuated 0.386% from a day low at £945.25 to a day high of £948.90. The price has risen in 5 of the last 10 days and is up by 1.65% over the past 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 thousand shares were bought and sold for approximately £1.17 million.
The ETF lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £937.07 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 4.59% during the next 3 months and, with a 90% probability hold a price between £980.10 and £1,024.53 at the end of this 3-month period.
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IEFM.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.65%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ishares Edge Msci Europe Momentum Factor 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 £950.44 and £952.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Ishares Edge Msci Europe Momentum Factor gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Ishares Edge Msci Europe Momentum Factor ETF
Ishares Edge Msci Europe Momentum Factor finds support from accumulated volume at £926.50 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 £3.65 between high and low, or 0.386%. For the last week the ETF has had daily average volatility of 0.368%.
Our recommended stop-loss: £898.60 (-4.93%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (IEFM.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Edge Msci Europe Momentum Factor Ucits Etf to open at £946.47, and during the day (based on 14 day Average True Range), to move between £934.59 and £955.91, which gives a possible trading interval of +/-£10.66 (+/-1.13%) 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 2.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £948.30 (0.32%) than the support at £926.50 (1.98%), 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?
Ishares Edge Msci Europe Momentum Factor 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ishares Edge Msci Europe Momentum Factor Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £946.47 ( 0.129%) | £945.25 |
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 | 950.12 | 0.515% |
| R2 | 948.72 | 0.367% |
| R1 | 947.86 | 0.276% |
| Price | 945.25 | |
| S1 | 945.07 | -0.0188% |
| S2 | 944.21 | -0.110% |
| S3 | 942.82 | -0.257% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 960.30 | 1.59% |
| R2 | 954.85 | 1.02% |
| R1 | 948.30 | 0.323% |
| Price | 945.25 | |
| S1 | 926.50 | -1.98% |
| S2 | 918.80 | -2.80% |
| S3 | 917.70 | -2.91% |
FAQ
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