Ishares Morningstar Mid-cap Growth Etf ETF Forecast

Evaluation of Ishares Morningstar Mid-cap Growth Etf ETF downgraded after the last trading session.
(Updated on May 06, 2024)

IMCG Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.20%. 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 Morningstar Mid-cap Growth Etf 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 $68.31. On a fall, the ETF will find some support from the short-term average at $67.18. 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 Morningstar Mid-cap Growth Etf ETF

Ishares Morningstar Mid-cap Growth Etf finds support from accumulated volume at $67.36 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 $0.519 between high and low, or 0.767%. For the last week the ETF has had daily average volatility of 1.41%.

Our recommended stop-loss: $64.77 (-5.04%) (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 (IMCG) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Ishares Morningstar Mid-cap Growth Etf to open at $68.04, and during the day (based on 14 day Average True Range), to move between $67.28 and $69.14, which gives a possible trading interval of +/-$0.93 (+/-1.36%) up or down from last closing price. If Ishares Morningstar Mid-cap Growth Etf takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $68.61 (0.59%) than the support at $67.36 (1.25%), 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 Morningstar Mid-cap Growth Etf ETF A Buy?

Ishares Morningstar Mid-cap Growth Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.484 Hold/Accumulate Downgraded

Predicted Opening Price for Ishares Morningstar Mid-cap Growth Etf of Tuesday, May 7, 2024

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