iShares Core S&P/ASX 200 ETF Forecast

iShares Core S&P/ASX 200 ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)

IOZ.AX Signals & Forecast

The iShares Core S&P/ASX 200 ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately A$31.45. On a fall, the ETF will find some support from the long-term average at approximately A$31.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Friday, June 07, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -3.24% to A$30.42 within 16 trading days since signal was issued (Tuesday, July 02, 2024).

Support, Risk & Stop-loss for iShares Core S&P/ASX 200 ETF

iShares Core S&P/ASX 200 finds support from accumulated volume at A$31.41 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$0.215 between high and low, or 0.684%. For the last week the ETF has had daily average volatility of 0.84%.

Our recommended stop-loss: A$30.30 (-3.64%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (IOZ.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect iShares Core S&P/ASX 200 ETF to open at A$31.51, and during the day (based on 14 day Average True Range), to move between A$31.17 and A$31.71, which gives a possible trading interval of +/-A$0.270 (+/-0.86%) up or down from last closing price. If iShares Core S&P/ASX 200 ETF takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$31.41 (0.10%) than the resistance at A$31.65 (0.67%), 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/ASX 200 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 Core S&P/ASX 200 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: 3.050 Buy Candidate Upgraded

Predicted Opening Price for iShares Core S&P/ASX 200 ETF of Monday, July 1, 2024

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