iShares MSCI China ETF Forecast

iShares MSCI China ETF price up 0.658% on Friday
(Updated on May 17, 2024)

MCHI Signals & Forecast

The iShares MSCI China 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 $46.13 and $42.19. 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 21.73%. 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 MSCI China ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $40.38 and $38.91. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares MSCI China finds support just below today's level at $40.38. If this is broken, then the next support from accumulated volume will be at $38.91 and $38.48.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.685 between high and low, or 1.46%. For the last week, the ETF has had daily average volatility of 1.19%.

The iShares MSCI China ETF is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $45.47 (-4.16%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (MCHI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect iShares MSCI China ETF to open at $47.37, and during the day (based on 14 day Average True Range), to move between $46.74 and $48.14, which gives a possible trading interval of +/-$0.704 (+/-1.49%) up or down from last closing price. If iShares MSCI China ETF takes out the full calculated possible swing range there will be an estimated 2.97% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $40.38, some $7.06 (14.88%) from the current price of $47.44, our system finds the risk reward attractive.

Is iShares MSCI China ETF ETF A Buy?

iShares MSCI China 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for iShares MSCI China ETF of Monday, May 20, 2024

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