iShares U.S. Technology ETF Forecast
iShares U.S. Technology ETF price down 2.85% on Friday
(Updated on Apr 19, 2024)
The iShares U.S. Technology ETF price fell by -2.85% on the last day (Friday, 19th Apr 2024) from $128.41 to $124.75. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 3.11% from a day low at $124.32 to a day high of $128.19. The price has fallen in 7 of the last 10 days and is down by -7.1% for this period. Volume has increased on the last day by 631 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, 2 million shares were bought and sold for approximately $261.06 million.
Given the current short-term trend, the ETF is expected to rise 2.74% during the next 3 months and, with a 90% probability hold a price between $128.16 and $141.48 at the end of this 3-month period.
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IYW Signals & Forecast
There are few to no technical positive signals at the moment. The iShares U.S. Technology 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 $130.75 and $133.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -8.67%. Further fall is indicated until a new bottom pivot has been found. 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 U.S. Technology ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $3.87 between high and low, or 3.11%. For the last week the ETF has had daily average volatility of 2.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IYW) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect iShares U.S. Technology ETF to open at $125.75, and during the day (based on 14 day Average True Range), to move between $122.35 and $127.15, which gives a possible trading interval of +/-$2.40 (+/-1.92%) up or down from last closing price. If iShares U.S. Technology ETF takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $130.61, some $5.86 (4.70%) from the current price of $124.75, our system finds the risk reward not very attractive.
Is iShares U.S. Technology ETF ETF A Buy?
The iShares U.S. Technology ETF holds several negative signals and despite the positive trend, we believe iShares U.S. Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.635 Sell Candidate Unchanged
Predicted Opening Price for iShares U.S. Technology ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $125.75 ( 0.80%) | $124.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IYW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 129.62 | 3.91 % | |
| R2 | 128.14 | 2.72 % | ||
| R1 | 127.23 | 1.99 % | ||
| Current price: | 124.75 | |||
| Support | S1 | 124.27 | -0.381 % | |
| S2 | 123.36 | -1.11 % | ||
| S3 | 121.88 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.52 | 7.83 % | |
| R2 | 132.43 | 6.16 % | ||
| R1 | 130.61 | 4.70 % | ||
| Current price | 124.75 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
IYW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.0787 | 0.0582% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.161 | 0.133% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $0.0890 | 0.0838% |
| 4 | Nov 25, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.0680 | 0.0636% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.101 | 0.112% |
FAQ
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