iShares Core Canadian Corporate Bond ETF Forecast

iShares Core Canadian Corporate Bond ETF upgraded to Buy Candidate.
(Updated on Jun 25, 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 $19.69. On a fall, the ETF will find some support from the long-term average at approximately $19.50. 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, June 18, 2024, and so far it has fallen -0.785%. Further fall is indicated until a new bottom pivot has been found. iShares Core Canadian Corporate Bond gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The ETF had a Golden Star Signal on Friday, May 31, 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 $19.40 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 $0.0600 between high and low, or 0.307%. For the last week the ETF has had daily average volatility of 0.265%.

Our recommended stop-loss: $19.00 (-3.06%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (XCB.TO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect iShares Core Canadian Corporate Bond Index ETF to open at $19.58, and during the day (based on 14 day Average True Range), to move between $19.52 and $19.68, which gives a possible trading interval of +/-$0.0781 (+/-0.40%) 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 0.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.61 (0.05%) than the support at $19.40 (1.02%), 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?

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 Core Canadian Corporate Bond 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: 1.297 Buy Candidate Upgraded

Predicted Opening Price for iShares Core Canadian Corporate Bond Index ETF of Wednesday, June 26, 2024

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