ishares Trust - ishares MSCI Kuwait ETF Forecast

Evaluation of ishares Trust - ishares MSCI Kuwait ETF downgraded after the last trading session.
(Updated on May 16, 2024)

KWT Signals & Forecast

The ishares Trust - ishares MSCI Kuwait ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $33.26 and $32.98. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.490%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Friday, May 10, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ishares Trust - ishares MSCI Kuwait ETF

ishares Trust - ishares MSCI Kuwait finds support from accumulated volume at $33.36 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.384%

Our recommended stop-loss: $32.23 (-3.91%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (KWT) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect ishares Trust - ishares MSCI Kuwait ETF to open at $33.54, and during the day (based on 14 day Average True Range), to move between $33.24 and $33.83, which gives a possible trading interval of +/-$0.291 (+/-0.87%) up or down from last closing price. If ishares Trust - ishares MSCI Kuwait ETF takes out the full calculated possible swing range there will be an estimated 1.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.62 (0.25%) than the support at $33.36 (0.52%), 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 Trust - ishares MSCI Kuwait ETF ETF A Buy?

ishares Trust - ishares MSCI Kuwait 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.099 Hold/Accumulate Downgraded

Predicted Opening Price for ishares Trust - ishares MSCI Kuwait ETF of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.