iShares MSCI Emerging Markets ETF Forecast
Stronger technical forecast for iShares MSCI Emerging Markets ETF price after Friday trading.
(Updated on Jun 28, 2024)
The iShares MSCI Emerging Markets ETF price gained 1.07% on the last trading day (Friday, 28th Jun 2024), rising from A$64.32 to A$65.01. During the last trading day the ETF fluctuated 1.36% from a day low at A$64.50 to a day high of A$65.38. The price has been going up and down for this period, and there has been a 0.76% gain for the last 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 19 thousand shares were bought and sold for approximately A$1.26 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 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 3.43% during the next 3 months and, with a 90% probability hold a price between A$63.96 and A$68.58 at the end of this 3-month period.
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IEM.AX Signals & Forecast
The iShares MSCI Emerging Markets 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 A$64.81 and A$64.35. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.322%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A sell signal from a double top formation was found on Thursday, June 20, 2024 and based on theory for this formation the price should fall by -9.77% to A$58.66 within 22 trading days since signal was issued (Monday, July 22, 2024).
Support, Risk & Stop-loss for iShares MSCI Emerging Markets ETF
iShares MSCI Emerging Markets finds support from accumulated volume at A$64.52 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0.88 between high and low, or 1.36%. For the last week the ETF has had daily average volatility of 1.05%
Our recommended stop-loss: A$63.02 (-3.07%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (IEM.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect iShares MSCI Emerging Markets ETF to open at A$64.96, and during the day (based on 14 day Average True Range), to move between A$64.25 and A$65.77, which gives a possible trading interval of +/-A$0.762 (+/-1.17%) up or down from last closing price. If iShares MSCI Emerging Markets ETF takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$65.09 (0.12%) than the support at A$64.52 (0.75%), 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 MSCI Emerging Markets 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 MSCI Emerging Markets ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.606 Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI Emerging Markets ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$64.96 ( 0.0718%) | A$65.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.84 | 1.28% |
| R2 | 65.51 | 0.765% |
| R1 | 65.30 | 0.445% |
| Price | 65.01 | |
| S1 | 64.63 | -0.589% |
| S2 | 64.42 | -0.91% |
| S3 | 64.08 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.30 | 0.446% |
| R2 | 65.22 | 0.323% |
| R1 | 65.09 | 0.123% |
| Price | 65.01 | |
| S1 | 64.52 | -0.754% |
| S2 | 63.00 | -3.09% |
| S3 | 62.76 | -3.46% |
IEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | A$0.742 | 1.27% |
| 2 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | A$0.449 | 0.753% |
| 3 | Dec 21, 2022 | Dec 21, 2022 | Dec 21, 2022 | A$0.703 | 1.24% |
| 4 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | A$0.544 | 0.95% |
| 5 | Dec 21, 2021 | Dec 21, 2021 | Dec 21, 2021 | A$0.84 | 1.25% |
FAQ
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