iShares U.S. Oil & Gas Exploration & ETF Forecast
iShares U.S. Oil & Gas Exploration & ETF price ended at $108.88 on Thursday, after gaining 0.489%.
(Updated on Apr 25, 2024)
The iShares U.S. Oil & Gas Exploration & ETF price gained 0.489% on the last trading day (Thursday, 25th Apr 2024), rising from $108.35 to $108.88. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.71% from a day low at $107.34 to a day high of $109.18. The price has been going up and down for this period, and there has been a -1.95% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 109 thousand shares were bought and sold for approximately $11.87 million.
The ETF lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $107.38 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 23.67% during the next 3 months and, with a 90% probability hold a price between $132.79 and $144.69 at the end of this 3-month period.
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IEO Signals & Forecast
The iShares U.S. Oil & Gas Exploration & 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 $107.38 and $106.12. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, April 05, 2024, and so far it has fallen -2.73%. 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).
Support, Risk & Stop-loss for iShares U.S. Oil & Gas Exploration & ETF
iShares U.S. Oil & Gas Exploration & finds support from accumulated volume at $108.27 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 $1.84 between high and low, or 1.71%. For the last week the ETF has had daily average volatility of 1.92%.
Our recommended stop-loss: $103.84 (-4.63%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (IEO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect iShares U.S. Oil & Gas Exploration & Production ETF to open at $108.47, and during the day (based on 14 day Average True Range), to move between $107.01 and $110.75, which gives a possible trading interval of +/-$1.87 (+/-1.71%) up or down from last closing price. If iShares U.S. Oil & Gas Exploration & Production ETF takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $108.27 (0.56%) than the resistance at $110.85 (1.81%), 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 U.S. Oil & Gas Exploration & Production 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 U.S. Oil & Gas Exploration & ETF to perform well in the short-term.
Current score: 3.110 Buy Candidate Unchanged
Predicted Opening Price for iShares U.S. Oil & Gas Exploration & Production ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $108.47 ( 0.380%) | $108.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.31 | 1.31 % | |
| R2 | 109.60 | 0.665 % | ||
| R1 | 109.17 | 0.266 % | ||
| Current price: | 108.88 | |||
| Support | S1 | 107.76 | -1.03 % | |
| S2 | 107.33 | -1.42 % | ||
| S3 | 106.63 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.94 | 2.81 % | |
| R2 | 110.96 | 1.91 % | ||
| R1 | 110.85 | 1.81 % | ||
| Current price | 108.88 | |||
| Support | S1 | 108.27 | -0.560% | |
| S2 | 106.97 | -1.75% | ||
| S3 | 101.90 | -6.41% |
IEO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.594 | 0.563% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.97 | 1.03% |
| 3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.499 | 0.526% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.547 | 0.656% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.785 | 0.92% |
FAQ
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