iShares MSCI UAE Capped ETF Forecast
iShares MSCI UAE Capped ETF upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The iShares MSCI UAE Capped ETF price gained 0.702% on the last trading day (Thursday, 25th Apr 2024), rising from $14.25 to $14.35. During the last trading day the ETF fluctuated 0.88% from a day low at $14.23 to a day high of $14.35. The price has fallen in 7 of the last 10 days and is down by -3.95% for this period. Volume fell on the last day by -12 thousand shares and in total, 2 thousand shares were bought and sold for approximately $23.26 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 ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $14.25 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares MSCI UAE Capped ETF with a 90% probability to be traded between $14.14 and $14.90 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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UAE Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 0.702%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares MSCI UAE Capped 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 $14.40 and $14.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for iShares MSCI UAE Capped ETF
iShares MSCI UAE Capped finds support from accumulated volume at $14.29 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 $0.125 between high and low, or 0.88%. For the last week the ETF has had daily average volatility of 0.772%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UAE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect iShares MSCI UAE Capped ETF to open at $14.31, and during the day (based on 14 day Average True Range), to move between $14.19 and $14.51, which gives a possible trading interval of +/-$0.157 (+/-1.10%) up or down from last closing price. If iShares MSCI UAE Capped ETF takes out the full calculated possible swing range there will be an estimated 2.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.29 (0.42%) than the resistance at $14.56 (1.46%), 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 MSCI UAE Capped ETF ETF A Buy?
iShares MSCI UAE Capped holds several negative signals and is within a 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.574 Sell Candidate Upgraded
Predicted Opening Price for iShares MSCI UAE Capped ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $14.31 ( 0.290%) | $14.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UAE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.43 | 0.581 % | |
| R2 | 14.39 | 0.248 % | ||
| R1 | 14.36 | 0.0424 % | ||
| Current price: | 14.35 | |||
| Support | S1 | 14.26 | -0.623 % | |
| S2 | 14.23 | -0.83 % | ||
| S3 | 14.18 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.80 | 3.14 % | |
| R2 | 14.57 | 1.53 % | ||
| R1 | 14.56 | 1.46 % | ||
| Current price | 14.35 | |||
| Support | S1 | 14.29 | -0.418% | |
| S2 | 14.25 | -0.697% | ||
| S3 | 0 | . |
UAE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.0943 | 0.641% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.388 | 2.72% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.0320 | 0.210% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.366 | 2.25% |
| 5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $0.283 | 1.65% |
FAQ
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