iShares Russell 3000 ETF Forecast
Evaluation of iShares Russell 3000 ETF downgraded after the last trading session.
(Updated on May 08, 2024)
The iShares Russell 3000 ETF price fell by -0.0710% on the last day (Wednesday, 8th May 2024) from $295.98 to $295.77. During the last trading day the ETF fluctuated 0.373% from a day low at $294.76 to a day high of $295.86. The price has risen in 6 of the last 10 days and is up by 2.27% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -141 thousand shares and in total, 33 thousand shares were bought and sold for approximately $9.75 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares Russell 3000 ETF with a 90% probability to be traded between $285.81 and $303.43 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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IWV Signals & Forecast
The iShares Russell 3000 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $291.70 and $293.07. 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 Tuesday, May 07, 2024, and so far it has fallen -0.0710%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for iShares Russell 3000 ETF
iShares Russell 3000 finds support from accumulated volume at $294.15 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 $1.10 between high and low, or 0.373%. For the last week the ETF has had daily average volatility of 0.676%.
Our recommended stop-loss: $284.98 (-3.65%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IWV) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect iShares Russell 3000 ETF to open at $295.46, and during the day (based on 14 day Average True Range), to move between $292.54 and $299.00, which gives a possible trading interval of +/-$3.23 (+/-1.09%) up or down from last closing price. If iShares Russell 3000 ETF takes out the full calculated possible swing range there will be an estimated 2.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $294.15 (0.55%) than the resistance at $298.38 (0.88%), 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 Russell 3000 ETF ETF A Buy?
iShares Russell 3000 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.723 Hold/Accumulate Downgraded
Predicted Opening Price for iShares Russell 3000 ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $295.46 ( 0.104%) | $295.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IWV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 296.56 | 0.268 % | |
| R2 | 296.14 | 0.126 % | ||
| R1 | 295.88 | 0.0384 % | ||
| Current price: | 295.77 | |||
| Support | S1 | 295.04 | -0.246 % | |
| S2 | 294.78 | -0.334 % | ||
| S3 | 294.36 | -0.476 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 300.08 | 1.46 % | |
| R2 | 299.90 | 1.40 % | ||
| R1 | 298.38 | 0.88 % | ||
| Current price | 295.77 | |||
| Support | S1 | 294.15 | -0.548% | |
| S2 | 293.81 | -0.663% | ||
| S3 | 286.53 | -3.12% |
IWV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.752 | 0.251% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $1.06 | 0.394% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $1.01 | 0.412% |
| 4 | Nov 25, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.646 | 0.258% |
| 5 | Nov 25, 2022 | Mar 23, 2023 | Mar 29, 2023 | $0.83 | 0.360% |
FAQ
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