iShares US Pharmaceuticals ETF Forecast
Red day on Friday for iShares US Pharmaceuticals
(Updated on May 10, 2024)
The iShares US Pharmaceuticals ETF price fell by -0.715% on the last day (Friday, 10th May 2024) from $65.69 to $65.22. During the last trading day the ETF fluctuated 0.98% from a day low at $65.22 to a day high of $65.86. The price has risen in 7 of the last 10 days and is up by 3.02% over the past 2 weeks. Volume has increased on the last day by 48 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 68 thousand shares were bought and sold for approximately $4.46 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -66.72% during the next 3 months and, with a 90% probability hold a price between $2.87 and $27.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IHE Signals & Forecast
The iShares US Pharmaceuticals ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $65.17 and $65.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 US Pharmaceuticals ETF
iShares US Pharmaceuticals finds support from accumulated volume at $63.69 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 $0.640 between high and low, or 0.98%. For the last week the ETF has had daily average volatility of 0.665%.
Our recommended stop-loss: $62.61 (-4.01%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (IHE) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect iShares US Pharmaceuticals ETF to open at $65.43, and during the day (based on 14 day Average True Range), to move between $64.14 and $66.30, which gives a possible trading interval of +/-$1.08 (+/-1.65%) up or down from last closing price. If iShares US Pharmaceuticals ETF takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $66.60 (2.12%) than the support at $63.69 (2.35%), 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 US Pharmaceuticals ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 1.182 Buy Candidate Unchanged
Predicted Opening Price for iShares US Pharmaceuticals ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $65.43 ( 0.327%) | $65.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.07 | 1.31 % | |
| R2 | 65.83 | 0.93 % | ||
| R1 | 65.68 | 0.702 % | ||
| Current price: | 65.22 | |||
| Support | S1 | 65.19 | -0.0478 % | |
| S2 | 65.04 | -0.279 % | ||
| S3 | 64.79 | -0.654 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.83 | 2.47 % | |
| R2 | 66.72 | 2.30 % | ||
| R1 | 66.60 | 2.12 % | ||
| Current price | 65.22 | |||
| Support | S1 | 63.69 | -2.35% | |
| S2 | 63.19 | -3.12% | ||
| S3 | 62.73 | -3.82% |
IHE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.275 | 0.406% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.404 | 0.675% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $0.90 | 1.54% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.590 | 1.00% |
| 5 | Nov 25, 2022 | Mar 23, 2023 | Mar 29, 2023 | $0.672 | 1.16% |
FAQ
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