Ishares $ Short Duration High Yield Corp ETF Forecast
Ishares $ Short Duration High Yield Corp ETF price ended at $6.30 on Tuesday, after gaining 0.199%.
(Updated on Jun 25, 2024)
The Ishares $ Short Duration High Yield Corp ETF price gained 0.199% on the last trading day (Tuesday, 25th Jun 2024), rising from $6.29 to $6.30. During the last trading day the ETF fluctuated 0.191% from a day low at $6.29 to a day high of $6.30. The price has risen in 6 of the last 10 days and is up by 0.62% over the past 2 weeks. Volume fell on the last day by -99 thousand shares and in total, 28 thousand shares were bought and sold for approximately $178.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $6.31 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ishares $ Short Duration High Yield Corp ETF with a 90% probability to be traded between $6.33 and $6.41 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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SDHA.L Signals & Forecast
The Ishares $ Short Duration High Yield Corp 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 $6.29 and $6.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.10%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Thursday, April 25, 2024 with a target of $6.20. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Ishares $ Short Duration High Yield Corp ETF
Ishares $ Short Duration High Yield Corp finds support from accumulated volume at $6.28 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0120 between high and low, or 0.191%. For the last week the ETF has had daily average volatility of 0.331%
Our recommended stop-loss: $5.97 (-5.28%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (SDHA.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Ishares $ Short Duration High Yield Corp Bond Ucits Etf to open at $6.30, and during the day (based on 14 day Average True Range), to move between $6.27 and $6.32, which gives a possible trading interval of +/-$0.0251 (+/-0.40%) up or down from last closing price. If Ishares $ Short Duration High Yield Corp Bond Ucits Etf takes out the full calculated possible swing range there will be an estimated 0.80% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.28, some $0.0235 (0.37%) from the current price of $6.30, our system finds the risk reward attractive.
Is Ishares $ Short Duration High Yield Corp Bond Ucits Etf ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ishares $ Short Duration High Yield Corp ETF to perform well in the short-term period.
Current score: 4.449 Buy Candidate Unchanged
Predicted Opening Price for Ishares $ Short Duration High Yield Corp Bond Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.30 ( 0.0159%) | $6.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDHA.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.31 | 0.175% |
| R2 | 6.30 | 0.102% |
| R1 | 6.30 | 0.0569% |
| Price | 6.30 | |
| S1 | 6.29 | -0.0887% |
| S2 | 6.29 | -0.134% |
| S3 | 6.29 | -0.206% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 6.30 | |
| S1 | 6.28 | -0.373% |
| S2 | 6.25 | -0.770% |
| S3 | 6.24 | -0.93% |
FAQ
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