iShares MSCI South Korea ETF Forecast
Stronger technical forecast for iShares MSCI South Korea ETF price after Friday trading.
(Updated on Jun 28, 2024)
The iShares MSCI South Korea ETF price gained 1.48% on the last trading day (Friday, 28th Jun 2024), rising from A$102.25 to A$103.76. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.45% from a day low at A$102.53 to a day high of A$104.02. The price has risen in 7 of the last 10 days and is up by 2.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately A$410.06 thousand.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at A$105.42 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect iShares MSCI South Korea ETF with a 90% probability to be traded between A$94.74 and A$104.01 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.
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IKO.AX Signals & Forecast
Mostly positive signals in the chart today. The iShares MSCI South Korea 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$102.10 and A$100.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 7.55%. 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). iShares MSCI South Korea has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for iShares MSCI South Korea ETF
iShares MSCI South Korea finds support from accumulated volume at A$103.65 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 A$1.49 between high and low, or 1.45%. For the last week the ETF has had daily average volatility of 0.90%.
Our recommended stop-loss: A$99.54 (-4.07%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (IKO.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect iShares MSCI South Korea ETF to open at A$103.44, and during the day (based on 14 day Average True Range), to move between A$102.64 and A$104.88, which gives a possible trading interval of +/-A$1.12 (+/-1.08%) up or down from last closing price. If iShares MSCI South Korea ETF takes out the full calculated possible swing range there will be an estimated 2.17% 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$103.77 (0.01%) than the support at A$103.65 (0.11%), 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 MSCI South Korea ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for iShares MSCI South Korea ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.420 Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI South Korea ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$103.44 ( 0.312%) | A$103.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IKO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 104.93 | 1.12% |
| R2 | 104.36 | 0.576% |
| R1 | 104.01 | 0.237% |
| Price | 103.76 | |
| S1 | 102.87 | -0.86% |
| S2 | 102.52 | -1.20% |
| S3 | 101.95 | -1.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 104.93 | 1.13% |
| R2 | 104.92 | 1.12% |
| R1 | 103.77 | 0.0096% |
| Price | 103.76 | |
| S1 | 103.65 | -0.106% |
| S2 | 101.39 | -2.28% |
| S3 | 101.15 | -2.52% |
IKO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | A$0.699 | 0.712% |
| 2 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | A$1.04 | 1.23% |
| 3 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | A$0.624 | 0.502% |
| 4 | Jul 01, 2020 | Jul 01, 2020 | Jul 01, 2020 | A$1.35 | 1.62% |
| 5 | Jul 01, 2019 | Jul 01, 2019 | Jul 01, 2019 | A$0.84 | 0.98% |
FAQ
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