iShares MSCI India Small-Cap ETF Forecast

Green day on Thursday for iShares MSCI India Small-Cap
(Updated on May 02, 2024)

SMIN Signals & Forecast

The iShares MSCI India Small-Cap 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 $75.48 and $72.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 13.68%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for iShares MSCI India Small-Cap ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $69.68 and $68.53. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares MSCI India Small-Cap finds support just below today's level at $69.68. If this is broken, then the next support from accumulated volume will be at $68.53 and $66.69.

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 $0.505 between high and low, or 0.669%. For the last week the ETF has had daily average volatility of 0.756%.

The iShares MSCI India Small-Cap ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $73.18 (-3.48%) (This ETF has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (SMIN) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect iShares MSCI India Small-Cap ETF to open at $75.76, and during the day (based on 14 day Average True Range), to move between $75.10 and $76.53, which gives a possible trading interval of +/-$0.716 (+/-0.94%) up or down from last closing price. If iShares MSCI India Small-Cap ETF takes out the full calculated possible swing range there will be an estimated 1.89% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $69.68, some $6.13 (8.09%) from the current price of $75.82, our system finds the risk reward attractive.

Is iShares MSCI India Small-Cap 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 MSCI India Small-Cap ETF to perform well in the short-term period.

Current score: 4.834 Buy Candidate Unchanged

Predicted Opening Price for iShares MSCI India Small-Cap ETF of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.