iShares Canadian Growth Index ETF Forecast

iShares Canadian Growth Index ETF downgraded to Sell Candidate
(Updated on Apr 26, 2024)

XCG.TO Signals & Forecast

There are few to no technical positive signals at the moment. The iShares Canadian Growth Index 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 $49.19 and $49.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -2.52%. Further fall is indicated until a new bottom pivot has been found. 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 Canadian Growth Index ETF

iShares Canadian Growth Index finds support from accumulated volume at $48.90 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 $0.0200 between high and low, or 0.0407%. For the last week the ETF has had daily average volatility of 0.714%

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

Trading Expectations (XCG.TO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect iShares Canadian Growth Index ETF to open at $49.17, and during the day (based on 14 day Average True Range), to move between $48.79 and $49.57, which gives a possible trading interval of +/-$0.389 (+/-0.79%) up or down from last closing price. If iShares Canadian Growth Index ETF takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $48.90 (0.57%) than the resistance at $49.73 (1.12%), 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 Canadian Growth Index ETF ETF A Buy?

The iShares Canadian Growth Index ETF holds several negative signals and despite the positive trend, we believe iShares Canadian Growth Index will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.391 Sell Candidate Downgraded

Predicted Opening Price for iShares Canadian Growth Index ETF of Monday, April 29, 2024

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