iShares S&P Global Timber & Forestry ETF Forecast

Green day on Monday for iShares S&P Global Timber & Forestry ETF after gaining 0.201%
(Updated on Apr 22, 2024)

WOOD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.40%. 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. The iShares S&P Global Timber & Forestry 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 $79.68 and $81.81. 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). The ETF had a Golden Star Signal on Friday, July 07, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for iShares S&P Global Timber & Forestry ETF

iShares S&P Global Timber & Forestry finds support from accumulated volume at $79.45 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 $0.745 (0.94%) between high and low. For the last week, the ETF has had daily average volatility of 1.11%.

iShares S&P Global Timber & Forestry is oversold on RSI14 (23). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $74.78 (-6.06%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (WOOD) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect iShares S&P Global Timber & Forestry Index Fund to open at $79.54, and during the day (based on 14 day Average True Range), to move between $78.53 and $80.69, which gives a possible trading interval of +/-$1.08 (+/-1.36%) up or down from last closing price. If iShares S&P Global Timber & Forestry Index Fund takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $79.45 (0.20%) than the resistance at $81.35 (2.19%), 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 S&P Global Timber & Forestry Index Fund ETF A Buy?

iShares S&P Global Timber & Forestry holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.170 Hold/Accumulate Unchanged

Predicted Opening Price for iShares S&P Global Timber & Forestry Index Fund of Tuesday, April 23, 2024

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