FlexShares Credit-Scored US Corporate ETF Forecast
Red day on Wednesday for FlexShares Credit-Scored US Corporate ETF after losing 0.0959%
(Updated on May 01, 2024)
The FlexShares Credit-Scored US Corporate ETF price fell by -0.0959% on the last day (Wednesday, 1st May 2024) from $46.92 to $46.87. During the last trading day the ETF fluctuated 0.406% from a day low at $46.76 to a day high of $46.95. The price has been going up and down for this period, and there has been a -0.07% loss for the last 2 weeks. 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 -2 thousand shares and in total, 10 thousand shares were bought and sold for approximately $480.82 thousand.
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 FlexShares Credit-Scored US Corporate ETF with a 90% probability to be traded between $45.89 and $46.78 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SKOR Signals & Forecast
There are mixed signals in the ETF today. The FlexShares Credit-Scored US Corporate 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 $46.94 and $47.25. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.279%. 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).
Support, Risk & Stop-loss for FlexShares Credit-Scored US Corporate ETF
FlexShares Credit-Scored US Corporate finds support from accumulated volume at $46.87 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 $0.190 between high and low, or 0.406%. For the last week the ETF has had daily average volatility of 0.221%
Our recommended stop-loss: $44.06 (-6.01%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (SKOR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect FlexShares Credit-Scored US Corporate Bond Index Fund to open at $46.86, and during the day (based on 14 day Average True Range), to move between $46.72 and $47.03, which gives a possible trading interval of +/-$0.154 (+/-0.33%) up or down from last closing price. If FlexShares Credit-Scored US Corporate Bond Index Fund takes out the full calculated possible swing range there will be an estimated 0.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.87 (0.01%) than the resistance at $46.97 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FlexShares Credit-Scored US Corporate Bond Index Fund ETF A Buy?
FlexShares Credit-Scored US Corporate 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: -0.654 Hold/Accumulate Unchanged
Predicted Opening Price for FlexShares Credit-Scored US Corporate Bond Index Fund of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $46.86 ( 0.0253%) | $46.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKOR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.05 | 0.380 % | |
| R2 | 46.98 | 0.225 % | ||
| R1 | 46.93 | 0.130 % | ||
| Current price: | 46.87 | |||
| Support | S1 | 46.79 | -0.180 % | |
| S2 | 46.74 | -0.276 % | ||
| S3 | 46.67 | -0.431 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.46 | 1.25 % | |
| R2 | 47.34 | 1.00 % | ||
| R1 | 46.97 | 0.197 % | ||
| Current price | 46.87 | |||
| Support | S1 | 46.87 | -0.0062% | |
| S2 | 46.83 | -0.0913% | ||
| S3 | 46.74 | -0.278% |
SKOR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.200 | 0.422% |
| 2 | Feb 29, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.184 | 0.385% |
| 3 | Jan 31, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.194 | 0.407% |
| 4 | Nov 30, 2023 | Dec 15, 2023 | Dec 07, 2023 | $0.189 | 0.400% |
| 5 | Nov 30, 2023 | Dec 01, 2023 | Dec 07, 2023 | $0.189 | 0.400% |
FAQ
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