Ishares Electric Vehicles And Driving ETF Forecast
Weaker technical forecast for Ishares Electric Vehicles And Driving as ETF downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Ishares Electric Vehicles And Driving ETF price gained 0.93% on the last trading day (Friday, 28th Jun 2024), rising from 7.19€ to 7.26€. During the last trading day the ETF fluctuated 0.83% from a day low at 7.22€ to a day high of 7.28€. The price has been going up and down for this period, and there has been a -0.25% loss for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 41 thousand shares were bought and sold for approximately 297.09€ thousand. 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 4.57% during the next 3 months and, with a 90% probability hold a price between 7.40€ and 7.83€ at the end of this 3-month period.
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IEVD.F Signals & Forecast
There are few to no technical positive signals at the moment. The Ishares Electric Vehicles And Driving 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 7.26€ and 7.27€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -2.18%. 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). 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.
Support, Risk & Stop-loss for Ishares Electric Vehicles And Driving ETF
Ishares Electric Vehicles And Driving finds support from accumulated volume at 7.25€ 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 0.0600€ between high and low, or 0.83%. For the last week the ETF has had daily average volatility of 1.08%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IEVD.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Electric Vehicles And Driving Technology Ucits Etf to open at 7.25€, and during the day (based on 14 day Average True Range), to move between 7.17€ and 7.34€, which gives a possible trading interval of +/-0.0836€ (+/-1.15%) up or down from last closing price. If Ishares Electric Vehicles And Driving Technology Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 7.27€ (0.17%) than the support at 7.25€ (0.18%), 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 Electric Vehicles And Driving Technology Ucits Etf ETF A Buy?
The Ishares Electric Vehicles And Driving ETF holds several negative signals and despite the positive trend, we believe Ishares Electric Vehicles And Driving will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.473 Sell Candidate Downgraded
Predicted Opening Price for Ishares Electric Vehicles And Driving Technology Ucits Etf of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
7.25€ ( 0.0551%) | 7.26€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEVD.F
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.31 | 0.772% |
R2 | 7.29 | 0.456% |
R1 | 7.28 | 0.261% |
Price | 7.26 | |
S1 | 7.23 | -0.371% |
S2 | 7.22 | -0.566% |
S3 | 7.19 | -0.88% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.30 | 0.510% |
R2 | 7.28 | 0.262% |
R1 | 7.27 | 0.165% |
Price | 7.26 | |
S1 | 7.25 | -0.179% |
S2 | 7.14 | -1.63% |
S3 | 7.09 | -2.31% |
FAQ
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