ISHARES MSCI SAUDI ARABIA ETF Forecast
Evaluation of ISHARES MSCI SAUDI ARABIA ETF downgraded after the last trading session.
(Updated on Jun 25, 2024)
The ISHARES MSCI SAUDI ARABIA ETF price fell by -0.564% on the last day (Tuesday, 25th Jun 2024) from $40.75 to $40.52. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.93% from a day low at $40.39 to a day high of $40.77. The price has fallen in 7 of the last 10 days and is down by -2.43% for this period. Volume has increased on the last day by 505 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 $46.98 million.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -10.21% during the next 3 months and, with a 90% probability hold a price between $34.74 and $36.93 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.
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KSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 1.35%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ISHARES MSCI SAUDI ARABIA 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 $40.76 and $41.38. A break-up above any of these levels will issue buy signals. 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 MSCI SAUDI ARABIA ETF
ISHARES MSCI SAUDI ARABIA finds support from accumulated volume at $40.35 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 $0.375 between high and low, or 0.93%. For the last week the ETF has had daily average volatility of 0.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KSA) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect ISHARES MSCI SAUDI ARABIA ETF to open at $40.56, and during the day (based on 14 day Average True Range), to move between $40.03 and $41.01, which gives a possible trading interval of +/-$0.491 (+/-1.21%) up or down from last closing price. If ISHARES MSCI SAUDI ARABIA ETF takes out the full calculated possible swing range there will be an estimated 2.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.35 (0.42%) than the resistance at $40.81 (0.72%), 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 MSCI SAUDI ARABIA ETF ETF A Buy?
ISHARES MSCI SAUDI ARABIA holds several negative signals and is within a 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: -1.446 Sell Candidate Downgraded
Predicted Opening Price for ISHARES MSCI SAUDI ARABIA ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $40.56 ( 0.0946%) | $40.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KSA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.93 | 1.02% |
| R2 | 40.79 | 0.667% |
| R1 | 40.70 | 0.448% |
| Price | 40.52 | |
| S1 | 40.42 | -0.259% |
| S2 | 40.33 | -0.477% |
| S3 | 40.18 | -0.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.93 | 10.88% |
| R2 | 41.25 | 1.80% |
| R1 | 40.81 | 0.716% |
| Price | 40.52 | |
| S1 | 40.35 | -0.420% |
| S2 | 40.31 | -0.518% |
| S3 | 40.11 | -1.01% |
KSA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.543 | 1.33% |
| 2 | Nov 29, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.489 | 1.18% |
| 3 | Dec 14, 2021 | Dec 13, 2022 | Dec 19, 2022 | $0.400 | 1.09% |
| 4 | Dec 14, 2021 | Jun 09, 2022 | Jun 15, 2022 | $0.329 | 0.758% |
| 5 | Dec 15, 2020 | Dec 13, 2021 | Dec 17, 2021 | $0.264 | 0.647% |
FAQ
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