iShares Commodities Select Strategy ETF Forecast
iShares Commodities Select Strategy ETF price ended at $27.66 on Wednesday, after gaining 0.109%.
(Updated on Apr 24, 2024)
The iShares Commodities Select Strategy ETF price gained 0.109% on the last trading day (Wednesday, 24th Apr 2024), rising from $27.63 to $27.66. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.526% from a day low at $27.58 to a day high of $27.72. The price has been going up and down for this period, and there has been a -0.68% loss for the last 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 139 thousand shares were bought and sold for approximately $3.83 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a narrow and strong 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 10.06% during the next 3 months and, with a 90% probability hold a price between $29.87 and $31.31 at the end of this 3-month period.
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COMT Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -0.86%. 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). The iShares Commodities Select Strategy 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 $27.54 and $27.08. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for iShares Commodities Select Strategy ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $26.06 and $25.89. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares Commodities Select Strategy finds support just below today's level at $26.06. If this is broken, then the next support from accumulated volume will be at $25.89 and $25.67.
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 $0.145 between high and low, or 0.526%. For the last week the ETF has had daily average volatility of 0.88%.
Our recommended stop-loss: $26.63 (-3.74%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (COMT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect iShares Commodities Select Strategy ETF to open at $27.65, and during the day (based on 14 day Average True Range), to move between $27.36 and $27.96, which gives a possible trading interval of +/-$0.295 (+/-1.07%) up or down from last closing price. If iShares Commodities Select Strategy ETF takes out the full calculated possible swing range there will be an estimated 2.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.76 (0.36%) than the support at $26.06 (5.78%), 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 Commodities Select Strategy ETF 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 Commodities Select Strategy ETF to perform well in the short-term.
Current score: 1.113 Buy Candidate Unchanged
Predicted Opening Price for iShares Commodities Select Strategy ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $27.65 ( 0.0301%) | $27.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.80 | 0.494 % | |
| R2 | 27.74 | 0.294 % | ||
| R1 | 27.71 | 0.170 % | ||
| Current price: | 27.66 | |||
| Support | S1 | 27.60 | -0.230 % | |
| S2 | 27.56 | -0.354 % | ||
| S3 | 27.51 | -0.554 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.86 | 0.723 % | |
| R2 | 27.84 | 0.651 % | ||
| R1 | 27.76 | 0.362 % | ||
| Current price | 27.66 | |||
| Support | S1 | 26.06 | -5.78% | |
| S2 | 25.89 | -6.40% | ||
| S3 | 25.67 | -7.19% |
COMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $1.30 | 5.11% |
| 2 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $8.40 | 30.74% |
| 3 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $5.49 | 18.49% |
| 4 | Dec 14, 2020 | Dec 14, 2020 | Dec 18, 2020 | $0.0960 | 0.359% |
| 5 | Dec 16, 2019 | Dec 16, 2019 | Dec 20, 2019 | $0.86 | 2.64% |
FAQ
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