iShares Short Maturity Municipal Bond ETF Forecast
Weaker technical forecast for iShares Short Maturity Municipal Bond as ETF downgraded to Sell Candidate.
(Updated on May 09, 2024)
The iShares Short Maturity Municipal Bond ETF price fell by -0.0600% on the last day (Thursday, 9th May 2024) from $50.03 to $50.00. During the last trading day the ETF fluctuated 0.120% from a day low at $49.97 to a day high of $50.03. The price has been going up and down for this period, and there has been a -0.12% loss for the last 2 weeks. Volume has increased on the last day by 65 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, 108 thousand shares were bought and sold for approximately $5.40 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares Short Maturity Municipal Bond ETF with a 90% probability to be traded between $49.85 and $50.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MEAR Signals & Forecast
There are mixed signals in the ETF today. The iShares Short Maturity Municipal Bond ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $50.02. On a fall, the ETF will find some support from the short-term average at $49.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.100%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 08, 2023.
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.
Golden Star
The ETF had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 08, 2023.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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 08, 2023.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.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 0.0700% to $50.03 within 21 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for iShares Short Maturity Municipal Bond ETF
iShares Short Maturity Municipal Bond finds support from accumulated volume at $49.98 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 $0.0600 between high and low, or 0.120%. For the last week the ETF has had daily average volatility of 0.143%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MEAR) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect iShares Short Maturity Municipal Bond ETF to open at $50.00, and during the day (based on 14 day Average True Range), to move between $49.94 and $50.06, which gives a possible trading interval of +/-$0.0639 (+/-0.13%) up or down from last closing price. If iShares Short Maturity Municipal Bond ETF takes out the full calculated possible swing range there will be an estimated 0.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.98 (0.04%) than the resistance at $50.05 (0.10%), 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 Short Maturity Municipal Bond ETF ETF A Buy?
iShares Short Maturity Municipal Bond holds several negative signals and we believe that 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: -2.600 Sell Candidate Downgraded
Predicted Opening Price for iShares Short Maturity Municipal Bond ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $50.00 ( 0%) | $50.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEAR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.06 | 0.120 % | |
| R2 | 50.04 | 0.0742 % | ||
| R1 | 50.02 | 0.0458 % | ||
| Current price: | 50.00 | |||
| Support | S1 | 49.98 | -0.0458 % | |
| S2 | 49.96 | -0.0742 % | ||
| S3 | 49.94 | -0.120 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.09 | 0.180 % | |
| R2 | 50.06 | 0.110 % | ||
| R1 | 50.05 | 0.100 % | ||
| Current price | 50.00 | |||
| Support | S1 | 49.98 | -0.0400% | |
| S2 | 49.96 | -0.0800% | ||
| S3 | 49.95 | -0.100% |
MEAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.158 | 0.317% |
| 2 | Apr 01, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.153 | 0.307% |
| 3 | Mar 01, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.139 | 0.277% |
| 4 | Feb 01, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.145 | 0.290% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0.142 | 0.284% |
FAQ
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