iShares Core MSCI Canadian Quality ETF Forecast

Green day on Tuesday for iShares Core MSCI Canadian Quality ETF after gaining 0.302%
(Updated on Jul 02, 2024)

XDIV.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.92%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Core MSCI Canadian Quality ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $26.79. On a fall, the ETF will find some support from the short-term average at $26.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. The ETF had a Golden Star Signal on Wednesday, July 12, 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 Core MSCI Canadian Quality ETF

iShares Core MSCI Canadian Quality finds support from accumulated volume at $26.49 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 $0.230 between high and low, or 0.87%. For the last week the ETF has had daily average volatility of 0.781%.

Our recommended stop-loss: $25.17 (-5.25%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (XDIV.TO) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect iShares Core MSCI Canadian Quality Dividend Index ETF to open at $26.53, and during the day (based on 14 day Average True Range), to move between $26.32 and $26.82, which gives a possible trading interval of +/-$0.245 (+/-0.92%) up or down from last closing price. If iShares Core MSCI Canadian Quality Dividend Index ETF takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.49 (0.30%) than the resistance at $26.69 (0.45%), 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 Core MSCI Canadian Quality Dividend 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 MSCI Canadian Quality ETF to perform well in the short-term period.

Current score: 2.233 Buy Candidate Unchanged

Predicted Opening Price for iShares Core MSCI Canadian Quality Dividend Index ETF of Wednesday, July 3, 2024

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