iShares JPX-Nikkei 400 ETF Forecast
Stronger technical forecast for iShares JPX-Nikkei 400 ETF price after Thursday trading.
(Updated on May 09, 2024)
The iShares JPX-Nikkei 400 ETF price gained 0.489% on the last trading day (Thursday, 9th May 2024), rising from $72.12 to $72.47. During the last trading day the ETF fluctuated 0.91% from a day low at $71.82 to a day high of $72.47. The price has risen in 6 of the last 10 days and is up by 3.09% 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, 10 thousand more shares were traded than the day before. In total, 16 thousand shares were bought and sold for approximately $1.18 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 JPX-Nikkei 400 ETF with a 90% probability to be traded between $69.84 and $74.98 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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JPXN Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). iShares JPX-Nikkei 400 has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares JPX-Nikkei 400 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 $72.59 and $72.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.56%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for iShares JPX-Nikkei 400 ETF
iShares JPX-Nikkei 400 finds support from accumulated volume at $72.40 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 $0.650 between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 0.459%.
Our recommended stop-loss: $69.39 (-4.25%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (JPXN) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect iShares JPX-Nikkei 400 ETF to open at $72.25, and during the day (based on 14 day Average True Range), to move between $71.69 and $73.25, which gives a possible trading interval of +/-$0.781 (+/-1.08%) up or down from last closing price. If iShares JPX-Nikkei 400 ETF takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $72.40 (0.10%) than the resistance at $73.75 (1.77%), 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 JPX-Nikkei 400 ETF ETF A Buy?
iShares JPX-Nikkei 400 holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.148 Hold/Accumulate Upgraded
Predicted Opening Price for iShares JPX-Nikkei 400 ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $72.25 ( 0.299%) | $72.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JPXN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.90 | 0.598 % | |
| R2 | 72.66 | 0.255 % | ||
| R1 | 72.50 | 0.0437 % | ||
| Current price: | 72.47 | |||
| Support | S1 | 72.01 | -0.642 % | |
| S2 | 71.85 | -0.85 % | ||
| S3 | 71.60 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.81 | 3.22 % | |
| R2 | 73.95 | 2.04 % | ||
| R1 | 73.75 | 1.77 % | ||
| Current price | 72.47 | |||
| Support | S1 | 72.40 | -0.0966% | |
| S2 | 71.33 | -1.57% | ||
| S3 | 71.20 | -1.76% |
JPXN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $1.29 | 1.97% |
| 2 | Nov 29, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.461 | 0.679% |
| 3 | Dec 14, 2021 | Dec 13, 2022 | Dec 19, 2022 | $0.238 | 0.412% |
| 4 | Dec 14, 2021 | Jun 09, 2022 | Jun 15, 2022 | $0.620 | 1.09% |
| 5 | Dec 15, 2020 | Dec 13, 2021 | Dec 17, 2021 | $1.28 | 1.80% |
FAQ
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