iShares S&P/TSX Capped Information ETF Forecast
Weaker technical forecast for iShares S&P/TSX Capped Information as ETF downgraded to Hold/Accumulate.
(Updated on Jun 27, 2024)
The iShares S&P/TSX Capped Information ETF price gained 1.36% on the last trading day (Thursday, 27th Jun 2024), rising from $51.51 to $52.21. During the last trading day the ETF fluctuated 1.51% from a day low at $51.51 to a day high of $52.29. The price has fallen in 6 of the last 10 days but is still up by 1.62% 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, 9 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $698.88 thousand.
Given the current short-term trend, the ETF is expected to fall -5.07% during the next 3 months and, with a 90% probability hold a price between $45.93 and $49.56 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
The iShares S&P/TSX Capped Information 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 $51.29 and $50.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 5.97%. 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 $51.38 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 $0.780 between high and low, or 1.51%. For the last week the ETF has had daily average volatility of 1.19%.
Our recommended stop-loss: $50.28 (-3.70%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (XIT.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect iShares S&P/TSX Capped Information Technology Index ETF to open at $52.00, and during the day (based on 14 day Average True Range), to move between $51.59 and $52.83, which gives a possible trading interval of +/-$0.621 (+/-1.19%) 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 2.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $51.38 (1.59%) than the resistance at $53.38 (2.24%), 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?
iShares S&P/TSX Capped Information holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.918 Hold/Accumulate Downgraded
Predicted Opening Price for iShares S&P/TSX Capped Information Technology Index ETF of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $52.00 ( 0.396%) | $52.21 |
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 | 52.78 | 1.10% |
| R2 | 52.49 | 0.527% |
| R1 | 52.30 | 0.175% |
| Price | 52.21 | |
| S1 | 51.71 | -0.97% |
| S2 | 51.52 | -1.32% |
| S3 | 51.22 | -1.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.56 | 4.50% |
| R2 | 53.48 | 2.43% |
| R1 | 53.38 | 2.24% |
| Price | 52.21 | |
| S1 | 51.38 | -1.59% |
| S2 | 51.20 | -1.93% |
| S3 | 50.48 | -3.31% |
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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