Ishares Core Canadian Short Term ETF Forecast
Ishares Core Canadian Short Term ETF upgraded to Strong Buy Candidate.
(Updated on Jun 28, 2024)
The Ishares Core Canadian Short Term ETF price gained 0.162% on the last trading day (Friday, 28th Jun 2024), rising from $18.47 to $18.50. During the last trading day the ETF fluctuated 0.217% from a day low at $18.46 to a day high of $18.50. The price has risen in 6 of the last 10 days but is still down by -0.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 54 thousand shares were bought and sold for approximately $1.01 million.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $18.47 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ishares Core Canadian Short Term ETF with a 90% probability to be traded between $18.68 and $18.89 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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XSH.TO Signals & Forecast
The Ishares Core Canadian Short Term 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 $18.52. On a fall, the ETF will find some support from the long-term average at approximately $18.49. 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 Wednesday, June 26, 2024, and so far it has risen 0.271%. Further rise is indicated until a new top pivot has been found. Ishares Core Canadian Short Term 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ishares Core Canadian Short Term ETF
Ishares Core Canadian Short Term finds support from accumulated volume at $18.47 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 $0.0400 between high and low, or 0.217%. For the last week the ETF has had daily average volatility of 0.173%.
Our recommended stop-loss: $17.40 (-5.93%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (XSH.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Ishares Core Canadian Short Term Corporate Bond Index Etf to open at $18.49, and during the day (based on 14 day Average True Range), to move between $18.46 and $18.54, which gives a possible trading interval of +/-$0.0434 (+/-0.23%) up or down from last closing price. If Ishares Core Canadian Short Term Corporate Bond Index Etf takes out the full calculated possible swing range there will be an estimated 0.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.51 (0.05%) than the support at $18.47 (0.16%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ishares Core Canadian Short Term Corporate Bond Index Etf ETF A Buy?
Ishares Core Canadian Short Term holds several positive signals and is considered to be a good choice at current levels. We expect the Ishares Core Canadian Short Term ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.131 Strong Buy Candidate Upgraded
Predicted Opening Price for Ishares Core Canadian Short Term Corporate Bond Index Etf of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $18.49 ( 0.0721%) | $18.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XSH.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.53 | 0.144% |
| R2 | 18.51 | 0.0615% |
| R1 | 18.50 | 0.0105% |
| Price | 18.50 | |
| S1 | 18.47 | -0.155% |
| S2 | 18.46 | -0.206% |
| S3 | 18.45 | -0.288% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.60 | 0.541% |
| R2 | 18.53 | 0.162% |
| R1 | 18.51 | 0.0541% |
| Price | 18.50 | |
| S1 | 18.47 | -0.162% |
| S2 | 18.38 | -0.649% |
| S3 | 18.35 | -0.81% |
FAQ
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