iShares Global Healthcare ETF Forecast
iShares Global Healthcare ETF upgraded to Buy Candidate.
(Updated on May 07, 2024)
The iShares Global Healthcare ETF price gained 0.84% on the last trading day (Tuesday, 7th May 2024), rising from $90.05 to $90.81. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.677% from a day low at $90.30 to a day high of $90.91. The price has risen in 6 of the last 10 days and is up by 1.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 67 thousand shares were bought and sold for approximately $6.11 million.
The ETF lies the upper part of a falling 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 $91.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -3.04% during the next 3 months and, with a 90% probability hold a price between $84.16 and $88.58 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IXJ Signals & Forecast
Mostly positive signals in the chart today. The iShares Global Healthcare 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 $89.75 and $90.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for iShares Global Healthcare ETF
iShares Global Healthcare finds support from accumulated volume at $90.47 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 $0.611 between high and low, or 0.677%. For the last week the ETF has had daily average volatility of 0.82%.
The iShares Global Healthcare ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the ETF manages to break the trend before that occurs.
Our recommended stop-loss: $86.36 (-4.90%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (IXJ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect iShares Global Healthcare ETF to open at $90.67, and during the day (based on 14 day Average True Range), to move between $89.98 and $91.64, which gives a possible trading interval of +/-$0.83 (+/-0.92%) up or down from last closing price. If iShares Global Healthcare ETF takes out the full calculated possible swing range there will be an estimated 1.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.47 (0.37%) than the resistance at $91.70 (0.98%), 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 Global Healthcare ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.940 Buy Candidate Upgraded
Predicted Opening Price for iShares Global Healthcare ETF of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $90.67 ( 0.150%) | $90.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IXJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.28 | 0.523 % | |
| R2 | 91.05 | 0.266 % | ||
| R1 | 90.91 | 0.107 % | ||
| Current price: | 90.81 | |||
| Support | S1 | 90.44 | -0.407 % | |
| S2 | 90.30 | -0.566 % | ||
| S3 | 90.06 | -0.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.98 | 1.29 % | |
| R2 | 91.87 | 1.17 % | ||
| R1 | 91.70 | 0.98 % | ||
| Current price | 90.81 | |||
| Support | S1 | 90.47 | -0.374% | |
| S2 | 90.15 | -0.727% | ||
| S3 | 87.64 | -3.49% |
IXJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.556 | 0.660% |
| 2 | Nov 29, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.644 | 0.762% |
| 3 | Dec 24, 2021 | Dec 13, 2022 | Dec 19, 2022 | $0.440 | 0.522% |
| 4 | Dec 24, 2021 | Jun 09, 2022 | Jun 15, 2022 | $0.551 | 0.714% |
| 5 | Dec 15, 2020 | Dec 13, 2021 | Dec 17, 2021 | $0.482 | 0.548% |
FAQ
Click here for our free guide on how to buy iShares Global Healthcare ETF ETF.
