Ishares Global Healthcare Index Etf ETF Forecast
Ishares Global Healthcare Index Etf ETF upgraded to Buy Candidate.
(Updated on Jun 20, 2024)
The Ishares Global Healthcare Index Etf ETF price gained 0.456% on the last trading day (Thursday, 20th Jun 2024), rising from $72.41 to $72.74. During the last trading day the ETF fluctuated 0.762% from a day low at $72.21 to a day high of $72.76. The price has fallen in 6 of the last 10 days and is down by -0.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately $1.46 million.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.38% during the next 3 months and, with a 90% probability hold a price between $73.56 and $75.70 at the end of this 3-month period.
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XHC.TO Signals & Forecast
The Ishares Global Healthcare Index Etf 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 $72.59 and $72.17. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ishares Global Healthcare Index Etf 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. 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 Monday, June 10, 2024, and so far it has fallen -0.696%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ishares Global Healthcare Index Etf ETF
Ishares Global Healthcare Index Etf finds support from accumulated volume at $72.55 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 $0.550 between high and low, or 0.762%. For the last week the ETF has had daily average volatility of 0.484%.
Our recommended stop-loss: $70.14 (-3.58%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (XHC.TO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Ishares Global Healthcare Index Etf (cad-hedged) to open at $72.57, and during the day (based on 14 day Average True Range), to move between $72.26 and $73.22, which gives a possible trading interval of +/-$0.475 (+/-0.65%) up or down from last closing price. If Ishares Global Healthcare Index Etf (cad-hedged) takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $72.55 (0.26%) than the resistance at $73.01 (0.37%), 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 Global Healthcare Index Etf (cad-hedged) ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ishares Global Healthcare Index Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.286 Buy Candidate Upgraded
Predicted Opening Price for Ishares Global Healthcare Index Etf (cad-hedged) of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $72.57 ( 0.234%) | $72.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XHC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.12 | 0.522% |
| R2 | 72.91 | 0.234% |
| R1 | 72.78 | 0.0551% |
| Price | 72.74 | |
| S1 | 72.36 | -0.523% |
| S2 | 72.23 | -0.701% |
| S3 | 72.02 | -0.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.25 | 0.701% |
| R2 | 73.14 | 0.550% |
| R1 | 73.01 | 0.371% |
| Price | 72.74 | |
| S1 | 72.55 | -0.261% |
| S2 | 72.41 | -0.454% |
| S3 | 70.89 | -2.54% |
FAQ
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