iShares U.S. Home Construction ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for iShares U.S. Home Construction
(Updated on May 17, 2024)
No changes to the price of iShares U.S. Home Construction ETF on the last trading day (Friday, 17th May 2024). During the last trading day the ETF fluctuated 0.90% from a day low at $108.19 to a day high of $109.16. The price has risen in 5 of the last 10 days and is up by 1.23% over the past 2 weeks.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares U.S. Home Construction ETF with a 90% probability to be traded between $100.77 and $113.71 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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ITB Signals & Forecast
The iShares U.S. Home Construction 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 $108.86. On a fall, the ETF will find some support from the long-term average at approximately $107.35. 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). 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 Wednesday, May 15, 2024, and so far it has fallen -3.07%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for iShares U.S. Home Construction ETF
iShares U.S. Home Construction finds support from accumulated volume at $107.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.97 (0.90%) between high and low. For the last week, the ETF has had daily average volatility of 1.68%.
Our recommended stop-loss: $103.27 (-4.98%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ITB) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect iShares U.S. Home Construction ETF to open at $108.68, and during the day (based on 14 day Average True Range), to move between $106.41 and $110.97, which gives a possible trading interval of +/-$2.28 (+/-2.10%) up or down from last closing price. If iShares U.S. Home Construction ETF takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $109.23 (0.50%) than the support at $107.33 (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 U.S. Home Construction ETF ETF A Buy?
iShares U.S. Home Construction 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.
Current score: -0.085 Hold/Accumulate Unchanged
Predicted Opening Price for iShares U.S. Home Construction ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $108.68 ( 0.0092%) | $108.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 109.65 | 0.88 % | |
| R2 | 109.28 | 0.542 % | ||
| R1 | 109.05 | 0.332 % | ||
| Current price: | 108.69 | |||
| Support | S1 | 108.31 | -0.350 % | |
| S2 | 108.08 | -0.561 % | ||
| S3 | 107.71 | -0.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.71 | 1.86 % | |
| R2 | 109.64 | 0.87 % | ||
| R1 | 109.23 | 0.497 % | ||
| Current price | 108.69 | |||
| Support | S1 | 107.33 | -1.25% | |
| S2 | 106.53 | -1.99% | ||
| S3 | 104.41 | -3.94% |
ITB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.143 | 0.125% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.101 | 0.101% |
| 3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.151 | 0.194% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0990 | 0.123% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.140 | 0.204% |
FAQ
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