Ishares U.s. Ig Corporate Bond Index Etf ETF Forecast
Ishares U.s. Ig Corporate Bond Index Etf ETF downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Ishares U.s. Ig Corporate Bond Index Etf ETF price fell by -0.605% on the last day (Friday, 28th Jun 2024) from $19.85 to $19.73. During the last trading day the ETF fluctuated 0.81% from a day low at $19.73 to a day high of $19.89. The price has fallen in 6 of the last 10 days and is down by -1.5% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -3 thousand shares and in total, 3 thousand shares were bought and sold for approximately $65.11 thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ishares U.s. Ig Corporate Bond Index Etf ETF with a 90% probability to be traded between $19.94 and $20.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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XIG.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Ishares U.s. Ig Corporate Bond Index Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $19.89 and $19.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.50%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ishares U.s. Ig Corporate Bond Index Etf ETF
Ishares U.s. Ig Corporate Bond Index Etf finds support from accumulated volume at $19.71 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 $0.160 between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 0.268%
Our recommended stop-loss: $18.88 (-4.30%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (XIG.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Ishares U.s. Ig Corporate Bond Index Etf (cad-hedged) to open at $19.78, and during the day (based on 14 day Average True Range), to move between $19.63 and $19.83, which gives a possible trading interval of +/-$0.0983 (+/-0.50%) up or down from last closing price. If Ishares U.s. Ig Corporate Bond Index Etf (cad-hedged) takes out the full calculated possible swing range there will be an estimated 1.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.71 (0.10%) than the resistance at $19.88 (0.76%), 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 U.s. Ig Corporate Bond Index Etf (cad-hedged) ETF A Buy?
Ishares U.s. Ig Corporate Bond Index Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.331 Hold/Accumulate Downgraded
Predicted Opening Price for Ishares U.s. Ig Corporate Bond Index Etf (cad-hedged) of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $19.78 ( 0.270%) | $19.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XIG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.94 | 1.08% |
| R2 | 19.88 | 0.771% |
| R1 | 19.84 | 0.580% |
| Price | 19.73 | |
| S1 | 19.72 | -0.0395% |
| S2 | 19.68 | -0.231% |
| S3 | 19.62 | -0.541% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.92 | 0.96% |
| R2 | 19.89 | 0.81% |
| R1 | 19.88 | 0.760% |
| Price | 19.73 | |
| S1 | 19.71 | -0.101% |
| S2 | 19.60 | -0.659% |
| S3 | 19.56 | -0.86% |
FAQ
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