iShares Global 100 AUD Hedged ETF Forecast

Evaluation of iShares Global 100 AUD Hedged ETF downgraded after the last trading session.
(Updated on Jun 21, 2024)

IHOO.AX Signals & Forecast

The iShares Global 100 AUD Hedged 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 A$179.17 and A$171.79. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.785%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Friday, May 03, 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.

Support, Risk & Stop-loss for iShares Global 100 AUD Hedged ETF

On the downside, the ETF finds support just below today's level from accumulated volume at A$169.88 and A$163.46. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares Global 100 AUD Hedged finds support just below today's level at A$169.88. If this is broken, then the next support from accumulated volume will be at A$163.46 and A$163.15.

In general the ETF tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved A$1.32 between high and low, or 0.737%. For the last week the ETF has had daily average volatility of 0.473%.

The iShares Global 100 AUD Hedged ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: A$173.02 (-3.59%) (This ETF has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (IHOO.AX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect iShares Global 100 AUD Hedged ETF to open at A$179.59, and during the day (based on 14 day Average True Range), to move between A$178.13 and A$180.77, which gives a possible trading interval of +/-A$1.32 (+/-0.74%) up or down from last closing price. If iShares Global 100 AUD Hedged ETF takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$179.81 (0.20%) than the support at A$169.88 (5.33%), 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 100 AUD Hedged ETF 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 100 AUD Hedged ETF to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.426 Buy Candidate Downgraded

Predicted Opening Price for iShares Global 100 AUD Hedged ETF of Monday, June 24, 2024

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