iShares S&P 500 Information Technology ETF Forecast

iShares S&P 500 Information Technology ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

IUIT.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.24%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares S&P 500 Information Technology ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £27.25. On a fall, the ETF will find some support from the short-term average at £26.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for iShares S&P 500 Information Technology ETF

iShares S&P 500 Information Technology finds support from accumulated volume at £26.70 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 £0.560 (2.10%) between high and low. For the last week, the ETF has had daily average volatility of 1.31%.

Our recommended stop-loss: £25.97 (-4.69%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (IUIT.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect iShares S&P 500 Information Technology Sector UCITS ETF USD to open at £27.09, and during the day (based on 14 day Average True Range), to move between £26.71 and £27.79, which gives a possible trading interval of +/-£0.539 (+/-1.98%) up or down from last closing price. If iShares S&P 500 Information Technology Sector UCITS ETF USD takes out the full calculated possible swing range there will be an estimated 3.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £27.36 (0.40%) than the support at £26.70 (2.02%), 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 S&P 500 Information Technology Sector UCITS ETF USD ETF A Buy?

iShares S&P 500 Information Technology 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.926 Hold/Accumulate Upgraded

Predicted Opening Price for iShares S&P 500 Information Technology Sector UCITS ETF USD of Tuesday, May 7, 2024

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