iShares Core S&P 500 ETF Forecast
Red day on Wednesday for iShares Core S&P 500
(Updated on May 01, 2024)
The iShares Core S&P 500 ETF price fell by -0.339% on the last day (Wednesday, 1st May 2024) from $504.51 to $502.80. During the last trading day the ETF fluctuated 1.66% from a day low at $502.35 to a day high of $510.69. The price has fallen in 6 of the last 10 days and is down by -0.03% for this period. Volume has increased on the last day by 209 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, 5 million shares were bought and sold for approximately $2.50 billion.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $498.84 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Core S&P 500 ETF with a 90% probability to be traded between $508.39 and $539.63 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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IVV Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.06%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Core S&P 500 ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $507.52 and $514.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for iShares Core S&P 500 ETF
iShares Core S&P 500 finds support from accumulated volume at $501.95 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 $8.34 between high and low, or 1.66%. For the last week the ETF has had daily average volatility of 1.21%.
Our recommended stop-loss: $477.23 (-5.09%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (IVV) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect iShares Core S&P 500 ETF to open at $505.28, and during the day (based on 14 day Average True Range), to move between $496.61 and $508.99, which gives a possible trading interval of +/-$6.19 (+/-1.23%) up or down from last closing price. If iShares Core S&P 500 ETF takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $501.95 (0.17%) than the resistance at $505.90 (0.62%), 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 500 ETF ETF A Buy?
iShares Core S&P 500 holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.221 Hold/Accumulate Unchanged
Predicted Opening Price for iShares Core S&P 500 ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $505.28 ( 0.493%) | $502.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IVV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 513.62 | 2.15 % | |
| R2 | 510.43 | 1.52 % | ||
| R1 | 508.47 | 1.13 % | ||
| Current price: | 502.80 | |||
| Support | S1 | 502.10 | -0.140 % | |
| S2 | 500.13 | -0.531 % | ||
| S3 | 496.94 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 521.13 | 3.65 % | |
| R2 | 517.52 | 2.93 % | ||
| R1 | 505.90 | 0.617 % | ||
| Current price | 502.80 | |||
| Support | S1 | 501.95 | -0.169% | |
| S2 | 499.13 | -0.730% | ||
| S3 | 497.53 | -1.05% |
IVV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $1.67 | 0.317% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $1.93 | 0.409% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $1.99 | 0.463% |
| 4 | Nov 25, 2022 | Jun 07, 2023 | Jun 13, 2023 | $1.34 | 0.306% |
| 5 | Nov 25, 2022 | Mar 23, 2023 | Mar 29, 2023 | $1.65 | 0.409% |
FAQ
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