iShares S&P/TSX Capped Information ETF Forecast
iShares S&P/TSX Capped Information ETF upgraded to Buy Candidate.
(Updated on Jun 21, 2024)
The iShares S&P/TSX Capped Information ETF price gained 0.97% on the last trading day (Friday, 21st Jun 2024), rising from $50.71 to $51.20. During the last trading day the ETF fluctuated 1.29% from a day low at $50.55 to a day high of $51.20. The price has fallen in 6 of the last 10 days but is still up by 1.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $1.15 million.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $51.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -7.23% during the next 3 months and, with a 90% probability hold a price between $44.76 and $47.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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XIT.TO Signals & Forecast
Mostly positive signals in the chart today. The iShares S&P/TSX Capped Information ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $51.26. On a fall, the ETF will find some support from the long-term average at approximately $50.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 3.92%. 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). iShares S&P/TSX Capped Information 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.
Support, Risk & Stop-loss for iShares S&P/TSX Capped Information ETF
iShares S&P/TSX Capped Information finds support from accumulated volume at $51.10 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 $0.650 between high and low, or 1.29%. For the last week the ETF has had daily average volatility of 0.93%.
Our recommended stop-loss: $48.80 (-4.68%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (XIT.TO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect iShares S&P/TSX Capped Information Technology Index ETF to open at $50.98, and during the day (based on 14 day Average True Range), to move between $50.57 and $51.83, which gives a possible trading interval of +/-$0.626 (+/-1.22%) up or down from last closing price. If iShares S&P/TSX Capped Information Technology Index ETF takes out the full calculated possible swing range there will be an estimated 2.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $51.10 (0.20%) than the resistance at $51.38 (0.35%), 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 S&P/TSX Capped Information Technology Index ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.176 Buy Candidate Upgraded
Predicted Opening Price for iShares S&P/TSX Capped Information Technology Index ETF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $50.98 ( 0.423%) | $51.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XIT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.63 | 0.85% |
| R2 | 51.39 | 0.361% |
| R1 | 51.23 | 0.0618% |
| Price | 51.20 | |
| S1 | 50.74 | -0.91% |
| S2 | 50.58 | -1.21% |
| S3 | 50.33 | -1.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 53.38 | 4.26% |
| R2 | 51.80 | 1.17% |
| R1 | 51.38 | 0.352% |
| Price | 51.20 | |
| S1 | 51.10 | -0.195% |
| S2 | 50.48 | -1.41% |
| S3 | 50.19 | -1.97% |
XIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | $0.0138 | 0.0250% |
| 2 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | $0.108 | 0.359% |
| 3 | Jun 23, 2017 | Jun 23, 2017 | Jun 23, 2017 | $0.0258 | 0.147% |
| 4 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | $0.0258 | 0.168% |
| 5 | Dec 29, 2015 | Dec 29, 2015 | Dec 29, 2015 | $0.0135 | 0.0894% |
FAQ
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