iShares China Large-Cap ETF Forecast
iShares China Large-Cap ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The iShares China Large-Cap ETF price gained 0.789% on the last trading day (Friday, 28th Jun 2024), rising from A$39.30 to A$39.61. During the last trading day the ETF fluctuated 1.65% from a day low at A$39.12 to a day high of A$39.77. The price has fallen in 6 of the last 10 days and is down by -1.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 83 thousand more shares were traded than the day before. In total, 118 thousand shares were bought and sold for approximately A$4.68 million.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at A$39.36 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 8.21% during the next 3 months and, with a 90% probability hold a price between A$42.59 and A$48.95 at the end of this 3-month period.
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IZZ.AX Signals & Forecast
There are mixed signals in the ETF today. The iShares China Large-Cap 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 A$39.97 and A$41.09. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.789%. 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 China Large-Cap ETF
iShares China Large-Cap finds support from accumulated volume at A$37.68 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 A$0.645 between high and low, or 1.65%. For the last week the ETF has had daily average volatility of 1.32%.
Our recommended stop-loss: A$37.21 (-6.05%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (IZZ.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect iShares China Large-Cap ETF to open at A$39.50, and during the day (based on 14 day Average True Range), to move between A$38.95 and A$40.27, which gives a possible trading interval of +/-A$0.657 (+/-1.66%) up or down from last closing price. If iShares China Large-Cap ETF takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$40.10 (1.24%) than the support at A$37.68 (4.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is iShares China Large-Cap ETF ETF A Buy?
iShares China Large-Cap 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.443 Hold/Accumulate Upgraded
Predicted Opening Price for iShares China Large-Cap ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$39.50 ( 0.282%) | A$39.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IZZ.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.14 | 1.35% |
| R2 | 39.90 | 0.724% |
| R1 | 39.74 | 0.340% |
| Price | 39.61 | |
| S1 | 39.25 | -0.90% |
| S2 | 39.10 | -1.29% |
| S3 | 38.85 | -1.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.65 | 2.63% |
| R2 | 40.49 | 2.22% |
| R1 | 40.10 | 1.24% |
| Price | 39.61 | |
| S1 | 37.68 | -4.87% |
| S2 | 37.42 | -5.53% |
| S3 | 37.23 | -6.01% |
IZZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | A$0.732 | 2.11% |
| 2 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | A$0.418 | 1.01% |
| 3 | Dec 21, 2022 | Dec 21, 2022 | Dec 21, 2022 | A$0.552 | 1.33% |
| 4 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | A$0.186 | 0.379% |
| 5 | Dec 21, 2021 | Dec 21, 2021 | Dec 21, 2021 | A$0.492 | 0.98% |
FAQ
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