BlackRock U.S. Carbon Transition ETF Forecast

BlackRock U.S. Carbon Transition ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)

LCTU Signals & Forecast

The BlackRock U.S. Carbon Transition 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 $59.20 and $57.74. 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 Tuesday, June 18, 2024, and so far it has fallen -0.303%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for BlackRock U.S. Carbon Transition ETF

BlackRock U.S. Carbon Transition finds support from accumulated volume at $58.38 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 $0.330 between high and low, or 0.557%. For the last week the ETF has had daily average volatility of 0.614%.

The BlackRock U.S. Carbon Transition 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: $57.26 (-3.44%) (This ETF has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (LCTU) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect BlackRock U.S. Carbon Transition Readiness ETF to open at $59.38, and during the day (based on 14 day Average True Range), to move between $58.84 and $59.76, which gives a possible trading interval of +/-$0.457 (+/-0.77%) up or down from last closing price. If BlackRock U.S. Carbon Transition Readiness ETF takes out the full calculated possible swing range there will be an estimated 1.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $59.35 (0.08%) than the support at $58.38 (1.55%), 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 BlackRock U.S. Carbon Transition Readiness ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BlackRock U.S. Carbon Transition ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.875 Buy Candidate Upgraded

Predicted Opening Price for BlackRock U.S. Carbon Transition Readiness ETF of Monday, June 24, 2024

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