iShares Treasury Floating Rate Bond ETF Forecast
Weaker technical forecast for iShares Treasury Floating Rate Bond as ETF downgraded to Sell Candidate.
(Updated on May 03, 2024)
The iShares Treasury Floating Rate Bond ETF price gained 0.0198% on the last trading day (Friday, 3rd May 2024), rising from $50.50 to $50.51. During the last trading day the ETF fluctuated 0.0198% from a day low at $50.50 to a day high of $50.51. The price has risen in 7 of the last 10 days but is still down by -0.19% for this period. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately $76.22 million. 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 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 iShares Treasury Floating Rate Bond ETF with a 90% probability to be traded between $50.43 and $50.68 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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TFLO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.0495%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Treasury Floating Rate Bond ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $50.59 and $50.58. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 0.0200% to $50.51 within 22 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for iShares Treasury Floating Rate Bond ETF
iShares Treasury Floating Rate Bond finds support from accumulated volume at $50.50 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 $0.0100 between high and low, or 0.0198%. For the last week the ETF has had daily average volatility of 0.0316%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TFLO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect iShares Treasury Floating Rate Bond ETF to open at $50.51, and during the day (based on 14 day Average True Range), to move between $50.47 and $50.54, which gives a possible trading interval of +/-$0.0334 (+/-0.07%) up or down from last closing price. If iShares Treasury Floating Rate Bond ETF takes out the full calculated possible swing range there will be an estimated 0.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.50 (0.01%) than the resistance at $50.56 (0.11%), 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 Treasury Floating Rate Bond ETF ETF A Buy?
iShares Treasury Floating Rate Bond holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.643 Sell Candidate Downgraded
Predicted Opening Price for iShares Treasury Floating Rate Bond ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $50.51 ( 0.00000000%) | $50.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TFLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.52 | 0.0198 % | |
| R2 | 50.51 | 0.0122 % | ||
| R1 | 50.51 | 0.0076 % | ||
| Current price: | 50.51 | |||
| Support | S1 | 50.50 | -0.0076 % | |
| S2 | 50.50 | -0.0122 % | ||
| S3 | 50.50 | -0.0198 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.60 | 0.188 % | |
| R2 | 50.59 | 0.168 % | ||
| R1 | 50.56 | 0.109 % | ||
| Current price | 50.51 | |||
| Support | S1 | 50.50 | -0.0099% | |
| S2 | 50.49 | -0.0297% | ||
| S3 | 50.44 | -0.129% |
TFLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.215 | 0.425% |
| 2 | Feb 29, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.271 | 0.537% |
| 3 | Jan 31, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.244 | 0.483% |
| 4 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0.232 | 0.461% |
| 5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.224 | 0.443% |
FAQ
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