iShares U.S. Oil & Gas Exploration & ETF Forecast
iShares U.S. Oil & Gas Exploration & ETF price up 1.01% on Monday
(Updated on May 06, 2024)
The iShares U.S. Oil & Gas Exploration & ETF price gained 1.01% on the last trading day (Monday, 6th May 2024), rising from $103.45 to $104.49. It has now gained 3 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 1.44% from a day low at $104.02 to a day high of $105.52. The price has risen in 7 of the last 10 days but is still down by -2.78% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 118 thousand shares were bought and sold for approximately $12.31 million.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $103.38 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 18.24% during the next 3 months and, with a 90% probability hold a price between $122.23 and $139.78 at the end of this 3-month period.
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IEO Signals & Forecast
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. The iShares U.S. Oil & Gas Exploration & 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 $105.04 and $107.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -6.66%. 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 $102.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $1.50 (1.44%) between high and low. For the last week, the ETF has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IEO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect iShares U.S. Oil & Gas Exploration & Production ETF to open at $104.68, and during the day (based on 14 day Average True Range), to move between $102.53 and $106.45, which gives a possible trading interval of +/-$1.96 (+/-1.88%) 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 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $102.48 (1.92%) than the resistance at $106.97 (2.37%), 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?
The iShares U.S. Oil & Gas Exploration & ETF holds several negative signals and despite the positive trend, we believe iShares U.S. Oil & Gas Exploration & will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.164 Sell Candidate Unchanged
Predicted Opening Price for iShares U.S. Oil & Gas Exploration & Production ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $104.68 ( 0.179%) | $104.49 |
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 | 106.18 | 1.61 % | |
| R2 | 105.60 | 1.07 % | ||
| R1 | 105.25 | 0.727 % | ||
| Current price: | 104.49 | |||
| Support | S1 | 104.10 | -0.370 % | |
| S2 | 103.75 | -0.709 % | ||
| S3 | 103.18 | -1.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.94 | 7.13 % | |
| R2 | 110.85 | 6.09 % | ||
| R1 | 106.97 | 2.37 % | ||
| Current price | 104.49 | |||
| Support | S1 | 102.48 | -1.92% | |
| S2 | 101.90 | -2.48% | ||
| S3 | 94.38 | -9.68% |
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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