iShares U.S. Medical Devices ETF Forecast
iShares U.S. Medical Devices ETF price ended at $55.79 on Tuesday, after gaining 0.396%.
(Updated on Jun 25, 2024)
The iShares U.S. Medical Devices ETF price gained 0.396% on the last trading day (Tuesday, 25th Jun 2024), rising from $55.57 to $55.79. During the last trading day the ETF fluctuated 0.703% from a day low at $55.45 to a day high of $55.84. The price has risen in 6 of the last 10 days but is still down by -1.27% for this period. Volume fell on the last day by -316 thousand shares and in total, 474 thousand shares were bought and sold for approximately $26.46 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 is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares U.S. Medical Devices ETF with a 90% probability to be traded between $52.84 and $55.47 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. 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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IHI Signals & Forecast
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. The iShares U.S. Medical Devices 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 $55.98 and $55.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for iShares U.S. Medical Devices ETF
iShares U.S. Medical Devices finds support from accumulated volume at $55.65 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 $0.390 between high and low, or 0.703%. For the last week the ETF has had daily average volatility of 0.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IHI) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect iShares U.S. Medical Devices ETF to open at $55.69, and during the day (based on 14 day Average True Range), to move between $55.19 and $56.39, which gives a possible trading interval of +/-$0.600 (+/-1.08%) up or down from last closing price. If iShares U.S. Medical Devices ETF takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.83 (0.07%) than the support at $55.65 (0.25%), 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 U.S. Medical Devices ETF ETF A Buy?
iShares U.S. Medical Devices holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -4.205 Sell Candidate Unchanged
Predicted Opening Price for iShares U.S. Medical Devices ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $55.69 ( 0.173%) | $55.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.08 | 0.526% |
| R2 | 55.93 | 0.259% |
| R1 | 55.84 | 0.0938% |
| Price | 55.79 | |
| S1 | 55.54 | -0.440% |
| S2 | 55.45 | -0.605% |
| S3 | 55.30 | -0.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.09 | 2.33% |
| R2 | 56.95 | 2.08% |
| R1 | 55.83 | 0.0717% |
| Price | 55.79 | |
| S1 | 55.65 | -0.251% |
| S2 | 55.53 | -0.466% |
| S3 | 54.78 | -1.81% |
IHI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.0314 | 0.0536% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0970 | 0.185% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $0.116 | 0.240% |
| 4 | Nov 25, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.0530 | 0.0978% |
| 5 | Nov 25, 2022 | Mar 23, 2023 | Mar 29, 2023 | $0.0210 | 0.0398% |
FAQ
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