iShares Core Canadian Corporate Bond ETF Forecast

iShares Core Canadian Corporate Bond ETF price ended at $19.36 on Friday, after losing 0%.
(Updated on May 24, 2024)

XCB.TO Signals & Forecast

The iShares Core Canadian Corporate Bond ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $19.44. On a fall, the ETF will find some support from the long-term average at approximately $19.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.718%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Friday, May 03, 2024 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 Core Canadian Corporate Bond ETF

iShares Core Canadian Corporate Bond finds support from accumulated volume at $19.27 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.170%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XCB.TO) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect iShares Core Canadian Corporate Bond Index ETF to open at $19.36, and during the day (based on 14 day Average True Range), to move between $19.29 and $19.43, which gives a possible trading interval of +/-$0.0671 (+/-0.35%) up or down from last closing price. If iShares Core Canadian Corporate Bond Index ETF takes out the full calculated possible swing range there will be an estimated 0.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.40 (0.21%) than the support at $19.27 (0.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is iShares Core Canadian Corporate Bond Index ETF ETF A Buy?

iShares Core Canadian Corporate Bond holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -1.271 Sell Candidate Unchanged

Predicted Opening Price for iShares Core Canadian Corporate Bond Index ETF of Monday, May 27, 2024

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