iShares Russell 2500 ETF Forecast
Stronger technical forecast for iShares Russell 2500 ETF price after Thursday trading.
(Updated on May 02, 2024)
The iShares Russell 2500 ETF price gained 1.26% on the last trading day (Thursday, 2nd May 2024), rising from $61.27 to $62.04. During the last trading day the ETF fluctuated 1.52% from a day low at $61.23 to a day high of $62.17. The price has risen in 7 of the last 10 days and is up by 2.82% 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, 33 thousand more shares were traded than the day before. In total, 64 thousand shares were bought and sold for approximately $3.94 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares Russell 2500 ETF with a 90% probability to be traded between $60.73 and $66.11 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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SMMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.82%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Russell 2500 ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $62.91. On a fall, the ETF will find some support from the short-term average at $61.77. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for iShares Russell 2500 ETF
iShares Russell 2500 finds support from accumulated volume at $61.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.93 (1.52%) between high and low. For the last week, the ETF has had daily average volatility of 1.36%.
Our recommended stop-loss: $58.67 (-5.44%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (SMMD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect iShares Russell 2500 ETF to open at $61.81, and during the day (based on 14 day Average True Range), to move between $61.11 and $62.97, which gives a possible trading interval of +/-$0.93 (+/-1.50%) up or down from last closing price. If iShares Russell 2500 ETF takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $61.68 (0.58%) than the resistance at $62.71 (1.08%), 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 Russell 2500 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 Russell 2500 ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.932 Buy Candidate Upgraded
Predicted Opening Price for iShares Russell 2500 ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $61.81 ( 0.367%) | $62.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.75 | 1.14 % | |
| R2 | 62.39 | 0.563 % | ||
| R1 | 62.17 | 0.208 % | ||
| Current price: | 62.04 | |||
| Support | S1 | 61.46 | -0.94 % | |
| S2 | 61.24 | -1.30 % | ||
| S3 | 60.88 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.35 | 3.72 % | |
| R2 | 63.01 | 1.56 % | ||
| R1 | 62.71 | 1.08 % | ||
| Current price | 62.04 | |||
| Support | S1 | 61.68 | -0.580% | |
| S2 | 60.49 | -2.50% | ||
| S3 | 60.37 | -2.69% |
SMMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.164 | 0.251% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.250 | 0.415% |
| 3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.283 | 0.527% |
| 4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.166 | 0.291% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.188 | 0.350% |
FAQ
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