iShares Europe ETF Forecast

iShares Europe ETF upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

IEU.AX Signals & Forecast

There are mixed signals in the ETF today. The iShares Europe ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at A$85.77. On a fall, the ETF will find some support from the short-term average at A$84.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.653%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Tuesday, May 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 18, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for iShares Europe ETF

iShares Europe finds support from accumulated volume at A$84.58 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$0.380 between high and low, or 0.449%. For the last week the ETF has had daily average volatility of 0.92%

Our recommended stop-loss: A$79.99 (-5.64%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (IEU.AX) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect iShares Europe ETF to open at A$84.80, and during the day (based on 14 day Average True Range), to move between A$83.94 and A$85.60, which gives a possible trading interval of +/-A$0.83 (+/-0.98%) up or down from last closing price. If iShares Europe ETF takes out the full calculated possible swing range there will be an estimated 1.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$84.58 (0.22%) than the resistance at A$85.18 (0.48%), 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 Europe 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 Europe 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: 1.171 Buy Candidate Upgraded

Predicted Opening Price for iShares Europe ETF of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.