Ishares € High Yield Corp Bond Ucits ETF Forecast

Ishares € High Yield Corp Bond Ucits ETF downgraded to Sell Candidate
(Updated on Jun 26, 2024)

IHYG.L Signals & Forecast

The Ishares € High Yield Corp Bond Ucits 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 92.22€ and 92.20€. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 12, 2024, and so far it has fallen -0.356%. Further fall is indicated until a new bottom pivot has been found. 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. 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 € High Yield Corp Bond Ucits ETF

Ishares € High Yield Corp Bond Ucits finds support from accumulated volume at 92.11€ 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 0.250€ between high and low, or 0.271%. For the last week the ETF has had daily average volatility of 0.311%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IHYG.L) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Ishares € High Yield Corp Bond Ucits Etf Eur (dist) to open at 92.36€, and during the day (based on 14 day Average True Range), to move between 91.92€ and 92.72€, which gives a possible trading interval of +/-0.399€ (+/-0.43%) up or down from last closing price. If Ishares € High Yield Corp Bond Ucits Etf Eur (dist) takes out the full calculated possible swing range there will be an estimated 0.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 92.36€ (0.04%) than the support at 92.11€ (0.23%), 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 € High Yield Corp Bond Ucits Etf Eur (dist) ETF A Buy?

Ishares € High Yield Corp Bond Ucits holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.

Current score: -1.476 Sell Candidate Downgraded

Predicted Opening Price for Ishares € High Yield Corp Bond Ucits Etf Eur (dist) of Thursday, June 27, 2024

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