iShares Transportation Average ETF Forecast
Weaker technical forecast for iShares Transportation Average as ETF downgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The iShares Transportation Average ETF price fell by -1.28% on the last day (Friday, 26th Apr 2024) from $66.66 to $65.81. During the last trading day the ETF fluctuated 1.37% from a day low at $65.51 to a day high of $66.41. The price has fallen in 7 of the last 10 days and is down by -2.66% for this period. Volume has increased on the last day by 199 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, 1 million shares were bought and sold for approximately $75.54 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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IYT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.0532%. 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 Transportation Average 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 $66.26 and $68.48. 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 Transportation Average ETF
iShares Transportation Average finds support from accumulated volume at $65.78 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 $0.90 (1.37%) between high and low. For the last week, the ETF has had daily average volatility of 2.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IYT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect iShares Transportation Average ETF to open at $65.91, and during the day (based on 14 day Average True Range), to move between $63.30 and $68.31, which gives a possible trading interval of +/-$2.50 (+/-3.80%) up or down from last closing price. If iShares Transportation Average ETF takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $65.78 (0.04%) than the resistance at $66.66 (1.29%), 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 Transportation Average ETF ETF A Buy?
iShares Transportation Average holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.551 Sell Candidate Downgraded
Predicted Opening Price for iShares Transportation Average ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $65.91 ( 0.157%) | $65.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IYT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.81 | 1.52 % | |
| R2 | 66.46 | 1.00 % | ||
| R1 | 66.25 | 0.679 % | ||
| Current price: | 65.81 | |||
| Support | S1 | 65.56 | -0.365 % | |
| S2 | 65.35 | -0.688 % | ||
| S3 | 65.01 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.55 | 4.17 % | |
| R2 | 67.67 | 2.83 % | ||
| R1 | 66.66 | 1.29 % | ||
| Current price | 65.81 | |||
| Support | S1 | 65.78 | -0.0380% | |
| S2 | 65.77 | -0.0532% | ||
| S3 | 0 | . |
IYT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.186 | 0.266% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.85 | 1.31% |
| 3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.97 | 1.67% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.685 | 1.16% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.80 | 1.44% |
FAQ
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