iShares Global Infrastructure ETF Forecast
iShares Global Infrastructure ETF upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The iShares Global Infrastructure ETF price gained 0.254% on the last trading day (Wednesday, 1st May 2024), rising from $47.31 to $47.43. During the last trading day the ETF fluctuated 1.52% from a day low at $47.19 to a day high of $47.91. The price has risen in 7 of the last 10 days and is up by 3.65% over the past 2 weeks. Volume fell on the last day by -100 thousand shares and in total, 308 thousand shares were bought and sold for approximately $14.62 million. 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 5.88% during the next 3 months and, with a 90% probability hold a price between $48.42 and $51.38 at the end of this 3-month period.
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IGF Signals & Forecast
The iShares Global Infrastructure ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $47.52. On a fall, the ETF will find some support from the long-term average at approximately $46.97. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Monday, April 29, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.
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.
Golden Star
The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.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.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -7.33% to $43.95 within 14 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for iShares Global Infrastructure ETF
iShares Global Infrastructure finds support from accumulated volume at $46.36 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 $0.718 between high and low, or 1.52%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: $45.64 (-3.78%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (IGF) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect iShares Global Infrastructure to open at $47.51, and during the day (based on 14 day Average True Range), to move between $46.88 and $47.98, which gives a possible trading interval of +/-$0.553 (+/-1.17%) up or down from last closing price. If iShares Global Infrastructure takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.45 (0.04%) than the support at $46.36 (2.26%), 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 Global Infrastructure 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 Global Infrastructure 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: 1.429 Buy Candidate Upgraded
Predicted Opening Price for iShares Global Infrastructure of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $47.51 ( 0.167%) | $47.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.23 | 1.68 % | |
| R2 | 47.95 | 1.10 % | ||
| R1 | 47.78 | 0.745 % | ||
| Current price: | 47.43 | |||
| Support | S1 | 47.24 | -0.411 % | |
| S2 | 47.07 | -0.768 % | ||
| S3 | 46.79 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.83 | 0.83 % | |
| R2 | 47.62 | 0.401 % | ||
| R1 | 47.45 | 0.0422 % | ||
| Current price | 47.43 | |||
| Support | S1 | 46.36 | -2.26% | |
| S2 | 45.33 | -4.43% | ||
| S3 | 44.99 | -5.14% |
IGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.91 | 1.92% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.675 | 1.45% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.518 | 1.14% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.705 | 1.52% |
| 5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $0.474 | 1.04% |
FAQ
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