iShares Short-Term Corporate Bond ETF Forecast
Red day on Thursday for iShares Short-Term Corporate Bond
(Updated on Apr 18, 2024)
The iShares Short-Term Corporate Bond ETF price fell by -0.0592% on the last day (Thursday, 18th Apr 2024) from $50.71 to $50.68. During the last trading day the ETF fluctuated 0.138% from a day low at $50.67 to a day high of $50.74. The price has fallen in 6 of the last 10 days and is down by -0.78% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -561 thousand shares and in total, 3 million shares were bought and sold for approximately $135.44 million.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $50.63 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Short-Term Corporate Bond ETF with a 90% probability to be traded between $50.25 and $50.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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IGSB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.0790%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Short-Term Corporate Bond 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 $50.71 and $51.04. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for iShares Short-Term Corporate Bond ETF
iShares Short-Term Corporate Bond finds support from accumulated volume at $50.64 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 $0.0700 between high and low, or 0.138%. For the last week the ETF has had daily average volatility of 0.156%.
Our recommended stop-loss: $47.40 (-6.47%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (IGSB) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect iShares Short-Term Corporate Bond ETF to open at $50.70, and during the day (based on 14 day Average True Range), to move between $50.57 and $50.79, which gives a possible trading interval of +/-$0.110 (+/-0.22%) up or down from last closing price. If iShares Short-Term Corporate Bond ETF takes out the full calculated possible swing range there will be an estimated 0.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.64 (0.08%) than the resistance at $51.02 (0.67%), 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 Short-Term Corporate Bond ETF ETF A Buy?
iShares Short-Term Corporate Bond holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.675 Hold/Accumulate Unchanged
Predicted Opening Price for iShares Short-Term Corporate Bond ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $50.70 ( 0.0329%) | $50.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGSB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.77 | 0.171 % | |
| R2 | 50.74 | 0.118 % | ||
| R1 | 50.72 | 0.0856 % | ||
| Current price: | 50.68 | |||
| Support | S1 | 50.67 | -0.0199 % | |
| S2 | 50.65 | -0.0525 % | ||
| S3 | 50.63 | -0.105 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.23 | 1.09 % | |
| R2 | 51.21 | 1.05 % | ||
| R1 | 51.02 | 0.671 % | ||
| Current price | 50.68 | |||
| Support | S1 | 50.64 | -0.0789% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
IGSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.165 | 0.324% |
| 2 | Feb 29, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.162 | 0.317% |
| 3 | Jan 31, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.152 | 0.296% |
| 4 | Nov 30, 2023 | Dec 14, 2023 | Dec 07, 2023 | $0.163 | 0.321% |
| 5 | Nov 30, 2023 | Dec 01, 2023 | Dec 07, 2023 | $0.151 | 0.298% |
FAQ
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