Ishares Trust ETF Forecast
Green day on Thursday for Ishares Trust
(Updated on Jun 27, 2024)
The Ishares Trust ETF price gained 0.141% on the last trading day (Thursday, 27th Jun 2024), rising from $30.04 to $30.08. During the last trading day the ETF fluctuated 0.332% from a day low at $30.08 to a day high of $30.18. The price has risen in 5 of the last 10 days but is still down by -0.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $41.54 thousand.
The ETF lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $30.20 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.64% during the next 3 months and, with a 90% probability hold a price between $30.79 and $31.90 at the end of this 3-month period.
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ITDH Signals & Forecast
The Ishares Trust 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 $30.10. On a fall, the ETF will find some support from the long-term average at approximately $29.80. 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). Ishares Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, June 25, 2024, and so far it has fallen -0.206%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ishares Trust ETF
Ishares Trust finds support from accumulated volume at $29.29 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 $0.100 between high and low, or 0.332%. For the last week the ETF has had daily average volatility of 0.136%.
Our recommended stop-loss: $28.87 (-4.02%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (ITDH) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Ishares Trust to open at $30.11, and during the day (based on 14 day Average True Range), to move between $29.93 and $30.23, which gives a possible trading interval of +/-$0.153 (+/-0.51%) up or down from last closing price. If Ishares Trust takes out the full calculated possible swing range there will be an estimated 1.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.09 (0.03%) than the support at $29.29 (2.63%), 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.
Current score: 1.947 Buy Candidate Unchanged
Predicted Opening Price for Ishares Trust of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $30.11 ( 0.111%) | $30.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITDH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.21 | 0.443% |
| R2 | 30.18 | 0.316% |
| R1 | 30.15 | 0.238% |
| Price | 30.08 | |
| S1 | 30.08 | -0.0162% |
| S2 | 30.05 | -0.0946% |
| S3 | 30.01 | -0.222% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.14 | 0.206% |
| R2 | 30.12 | 0.148% |
| R1 | 30.09 | 0.0322% |
| Price | 30.08 | |
| S1 | 29.29 | -2.63% |
| S2 | 29.24 | -2.79% |
| S3 | 28.97 | -3.69% |
FAQ
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