iShares Core S&P Mid-Cap ETF Forecast

iShares Core S&P Mid-Cap ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)

IJH Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.70%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Core S&P Mid-Cap ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $58.59. On a fall, the ETF will find some support from the short-term average at $57.77. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for iShares Core S&P Mid-Cap ETF

iShares Core S&P Mid-Cap finds support from accumulated volume at $58.50 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 $0.745 between high and low, or 1.28%. For the last week the ETF has had daily average volatility of 1.44%.

Our recommended stop-loss: $55.54 (-5.09%) (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 (IJH) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect iShares Core S&P Mid-Cap ETF to open at $58.63, and during the day (based on 14 day Average True Range), to move between $57.16 and $59.88, which gives a possible trading interval of +/-$1.36 (+/-2.33%) up or down from last closing price. If iShares Core S&P Mid-Cap ETF takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $58.50 (0.03%) than the resistance at $59.04 (0.89%), 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 Core S&P Mid-Cap 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.354 Buy Candidate Upgraded

Predicted Opening Price for iShares Core S&P Mid-Cap ETF of Monday, May 6, 2024

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