iShares U.S. Oil Equipment & Services ETF Forecast

iShares U.S. Oil Equipment & Services ETF downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)

IEZ Signals & Forecast

There are few to no technical positive signals at the moment. The iShares U.S. Oil Equipment & Services 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 $22.70 and $23.30. 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 -11.41%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for iShares U.S. Oil Equipment & Services ETF

iShares U.S. Oil Equipment & Services finds support from accumulated volume at $21.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.552 between high and low, or 2.55%. For the last week, the ETF has had daily average volatility of 2.23%.

iShares U.S. Oil Equipment & Services is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IEZ) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect iShares U.S. Oil Equipment & Services ETF to open at $21.92, and during the day (based on 14 day Average True Range), to move between $21.30 and $22.32, which gives a possible trading interval of +/-$0.512 (+/-2.35%) up or down from last closing price. If iShares U.S. Oil Equipment & Services ETF takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.18 (2.89%) than the resistance at $22.64 (3.81%), 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 Equipment & Services ETF ETF A Buy?

The iShares U.S. Oil Equipment & Services ETF holds several negative signals and despite the positive trend, we believe iShares U.S. Oil Equipment & Services 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: -2.341 Sell Candidate Downgraded

Predicted Opening Price for iShares U.S. Oil Equipment & Services ETF of Thursday, May 2, 2024

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