iShares Global Consumer Staples ETF Forecast

iShares Global Consumer Staples ETF upgraded to Buy Candidate.
(Updated on May 07, 2024)

KXI Signals & Forecast

Mostly positive signals in the chart today. The iShares Global Consumer Staples 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 $60.44 and $59.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.53%. 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 Global Consumer Staples ETF

iShares Global Consumer Staples finds support from accumulated volume at $60.58 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 $0.380 between high and low, or 0.624%. For the last week the ETF has had daily average volatility of 0.86%.

The iShares Global Consumer Staples ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $58.32 (-4.75%) (This ETF has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (KXI) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect iShares Global Consumer Staples ETF to open at $61.10, and during the day (based on 14 day Average True Range), to move between $60.74 and $61.72, which gives a possible trading interval of +/-$0.490 (+/-0.80%) up or down from last closing price. If iShares Global Consumer Staples ETF takes out the full calculated possible swing range there will be an estimated 1.60% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $60.58, some $0.650 (1.06%) from the current price of $61.23, our system finds the risk reward attractive.

Is iShares Global Consumer Staples ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for iShares Global Consumer Staples ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.131 Buy Candidate Upgraded

Predicted Opening Price for iShares Global Consumer Staples ETF of Wednesday, May 8, 2024

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