iShares S&P India Nifty 50 Index Fund ETF Forecast
iShares S&P India Nifty 50 Index Fund ETF price ended at $49.44 on Thursday, after losing 0.121%.
(Updated on Apr 18, 2024)
The iShares S&P India Nifty 50 Index Fund ETF price fell by -0.121% on the last day (Thursday, 18th Apr 2024) from $49.50 to $49.44. It has now fallen 8 days in a row. During the last trading day the ETF fluctuated 0.568% from a day low at $49.26 to a day high of $49.54. The price has fallen in 8 of the last 10 days and is down by -1.96% for this period. Volume has increased on the last day by 37 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 99 thousand shares were bought and sold for approximately $4.92 million.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $49.87 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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INDY Signals & Forecast
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. The iShares S&P India Nifty 50 Index Fund ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $50.01 and $50.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -3.42%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
A sell signal from a double top formation was found on Monday, April 08, 2024 and based on theory for this formation the price should fall by -0.780% to $49.05 within 20 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for iShares S&P India Nifty 50 Index Fund ETF
iShares S&P India Nifty 50 Index Fund finds support from accumulated volume at $49.12 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 $0.280 between high and low, or 0.568%. For the last week the ETF has had daily average volatility of 0.630%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect iShares S&P India Nifty 50 Index Fund to open at $49.41, and during the day (based on 14 day Average True Range), to move between $49.06 and $49.82, which gives a possible trading interval of +/-$0.379 (+/-0.77%) up or down from last closing price. If iShares S&P India Nifty 50 Index Fund takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.12 (0.65%) than the resistance at $49.85 (0.83%), 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 S&P India Nifty 50 Index Fund ETF A Buy?
iShares S&P India Nifty 50 Index Fund holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -1.505 Sell Candidate Unchanged
Predicted Opening Price for iShares S&P India Nifty 50 Index Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $49.41 ( 0.0539%) | $49.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.69 | 0.512 % | |
| R2 | 49.59 | 0.296 % | ||
| R1 | 49.52 | 0.162 % | ||
| Current price: | 49.44 | |||
| Support | S1 | 49.31 | -0.270 % | |
| S2 | 49.24 | -0.404 % | ||
| S3 | 49.13 | -0.620 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.35 | 3.86 % | |
| R2 | 50.69 | 2.53 % | ||
| R1 | 49.85 | 0.83 % | ||
| Current price | 49.44 | |||
| Support | S1 | 49.12 | -0.647% | |
| S2 | 48.92 | -1.05% | ||
| S3 | 48.56 | -1.78% |
INDY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.116 | 0.235% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0740 | 0.169% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $1.59 | 3.68% |
| 4 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $3.36 | 7.37% |
| 5 | Jun 09, 2021 | Jun 10, 2021 | Jun 16, 2021 | $0.0070 | 0.0150% |
FAQ
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