Ishares Trust ETF Forecast
Ishares Trust ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Ishares Trust ETF price fell by -0.0332% on the last day (Friday, 28th Jun 2024) from $30.16 to $30.15. During the last trading day the ETF fluctuated 0.398% from a day low at $30.15 to a day high of $30.27. The price has been going up and down for this period, and there has been a 0.73% gain for the last 2 weeks. Volume has increased on the last day by 1 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, 2 thousand shares were bought and sold for approximately $56.68 thousand.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.50% during the next 3 months and, with a 90% probability hold a price between $30.63 and $31.31 at the end of this 3-month period.
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ITDG Signals & Forecast
The Ishares Trust 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 $30.14 and $29.86. A breakdown below any of these levels will issue sell signals. 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, June 12, 2024, and so far it has fallen -0.165%. Further fall is indicated until a new bottom pivot has been found. Ishares Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ishares Trust ETF
Ishares Trust finds support from accumulated volume at $29.81 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 $0.120 between high and low, or 0.398%. For the last week the ETF has had daily average volatility of 0.257%.
Our recommended stop-loss: $29.29 (-2.85%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ITDG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Trust to open at $30.19, and during the day (based on 14 day Average True Range), to move between $29.98 and $30.32, which gives a possible trading interval of +/-$0.166 (+/-0.55%) up or down from last closing price. If Ishares Trust takes out the full calculated possible swing range there will be an estimated 1.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.15 (0.01%) than the support at $29.81 (1.13%), 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 Trust ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ishares Trust ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.798 Buy Candidate Upgraded
Predicted Opening Price for Ishares Trust of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $30.19 ( 0.133%) | $30.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITDG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.31 | 0.531% |
| R2 | 30.26 | 0.379% |
| R1 | 30.24 | 0.285% |
| Price | 30.15 | |
| S1 | 30.14 | -0.0194% |
| S2 | 30.12 | -0.113% |
| S3 | 30.07 | -0.265% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.20 | 0.166% |
| R2 | 30.16 | 0.0189% |
| R1 | 30.15 | 0.0086% |
| Price | 30.15 | |
| S1 | 29.81 | -1.13% |
| S2 | 29.74 | -1.36% |
| S3 | 29.54 | -2.02% |
ITDG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.230 | 0.84% |
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