iShares Automation & Robotics UCITS USD ETF Forecast
iShares Automation & Robotics UCITS USD ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The iShares Automation & Robotics UCITS USD ETF price fell by -1.66% on the last day (Friday, 19th Apr 2024) from £12.66 to £12.45. During the last trading day the ETF fluctuated 0.765% from a day low at £12.43 to a day high of £12.52. The price has fallen in 8 of the last 10 days and is down by -7.06% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -23 thousand shares and in total, 37 thousand shares were bought and sold for approximately £456.41 thousand.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately £13.38 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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RBOT.L Signals & Forecast
There are few to no technical positive signals at the moment. The iShares Automation & Robotics UCITS USD ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £12.82 and £13.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.21%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
A sell signal from a double top formation was found on Thursday, March 21, 2024 with a target of £13.63. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for iShares Automation & Robotics UCITS USD ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved £0.0950 between high and low, or 0.765%. For the last week the ETF has had daily average volatility of 1.18%.
iShares Automation & Robotics UCITS USD is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RBOT.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect iShares Automation & Robotics UCITS ETF USD (Acc) to open at £12.46, and during the day (based on 14 day Average True Range), to move between £12.24 and £12.65, which gives a possible trading interval of +/-£0.207 (+/-1.67%) up or down from last closing price. If iShares Automation & Robotics UCITS ETF USD (Acc) takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £12.91, some £0.465 (3.74%) from the current price of £12.45, our system finds the risk reward not very attractive.
Is iShares Automation & Robotics UCITS ETF USD (Acc) ETF A Buy?
iShares Automation & Robotics UCITS USD holds several negative signals and is within a narrow and falling trend, so we believe 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: -1.316 Sell Candidate Downgraded
Predicted Opening Price for iShares Automation & Robotics UCITS ETF USD (Acc) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £12.46 ( 0.147%) | £12.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBOT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.56 | 0.91 % | |
| R2 | 12.52 | 0.619 % | ||
| R1 | 12.50 | 0.439 % | ||
| Current price: | 12.45 | |||
| Support | S1 | 12.43 | -0.144 % | |
| S2 | 12.40 | -0.324 % | ||
| S3 | 12.37 | -0.616 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.63 | 9.52 % | |
| R2 | 13.59 | 9.16 % | ||
| R1 | 12.91 | 3.74 % | ||
| Current price | 12.45 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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