Ishares Automation & Robotics Ucits Etf ETF Forecast
Ishares Automation & Robotics Ucits Etf ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Ishares Automation & Robotics Ucits Etf ETF price gained 1.80% on the last trading day (Friday, 28th Jun 2024), rising from £1,028.50 to £1,047.00. During the last trading day the ETF fluctuated 1.06% from a day low at £1,041.00 to a day high of £1,052.00. The price has risen in 5 of the last 10 days and is up by 2.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately £25.42 million.
The ETFhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £1,046.50, a level that may pose a second chance to hit a runner. According to fan-theory £1,109.25 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RBTX.L Signals & Forecast
The Ishares Automation & Robotics Ucits Etf 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 £1,030.46 and £1,030.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 4.57%. 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.
A buy signal from a double bottom formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should go up by 3.54% to £1,084.12 within 26 trading days since signal was issued (Wednesday, July 10, 2024).
Support, Risk & Stop-loss for Ishares Automation & Robotics Ucits Etf ETF
Ishares Automation & Robotics Ucits Etf finds support from accumulated volume at £1,046.50 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 £11.00 between high and low, or 1.06%. For the last week the ETF has had daily average volatility of 0.727%.
Our recommended stop-loss: £992.64 (-5.19%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (RBTX.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Automation & Robotics Ucits Etf to open at £1,046.67, and during the day (based on 14 day Average True Range), to move between £1,035.22 and £1,058.78, which gives a possible trading interval of +/-£11.78 (+/-1.12%) up or down from last closing price. If Ishares Automation & Robotics Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,046.50 (0.05%) than the resistance at £1,049.50 (0.24%), 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 Automation & Robotics Ucits Etf ETF A Buy?
Ishares Automation & Robotics Ucits Etf 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Automation & Robotics Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1,046.67 ( 0.0318%) | £1,047.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBTX.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,057.67 | 1.02% |
| R2 | 1,053.46 | 0.617% |
| R1 | 1,050.87 | 0.370% |
| Price | 1,047.00 | |
| S1 | 1,042.46 | -0.433% |
| S2 | 1,039.87 | -0.681% |
| S3 | 1,035.67 | -1.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,072.50 | 2.44% |
| R2 | 1,050.75 | 0.358% |
| R1 | 1,049.50 | 0.239% |
| Price | 1,047.00 | |
| S1 | 1,046.50 | -0.0478% |
| S2 | 1,041.25 | -0.549% |
| S3 | 1,019.00 | -2.67% |
FAQ
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