iShares Core Canadian Corporate Bond ETF Forecast

iShares Core Canadian Corporate Bond ETF price ended at $19.74 on Friday, after gaining 0.203%.
(Updated on Jun 14, 2024)

XCB.TO Signals & Forecast

Mostly positive signals in the chart today. The iShares Core Canadian Corporate Bond ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $19.61 and $19.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 2.81%. 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). iShares Core Canadian Corporate Bond has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 $0.0400 between high and low, or 0.203%. For the last week the ETF has had daily average volatility of 0.276%.

Our recommended stop-loss: $18.67 (-5.43%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (XCB.TO) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect iShares Core Canadian Corporate Bond Index ETF to open at $19.73, and during the day (based on 14 day Average True Range), to move between $19.66 and $19.82, which gives a possible trading interval of +/-$0.0761 (+/-0.39%) 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 0.77% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $19.40, some $0.340 (1.72%) from the current price of $19.74, our system finds the risk reward attractive.

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

Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. 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.

Current score: 4.821 Buy Candidate Unchanged

Predicted Opening Price for iShares Core Canadian Corporate Bond Index ETF of Monday, June 17, 2024

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