iShares MSCI Europe Financials Sector ETF Forecast
iShares MSCI Europe Financials Sector ETF upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The iShares MSCI Europe Financials Sector ETF price gained 0.530% on the last trading day (Wednesday, 27th Mar 2024), rising from $22.66 to $22.78. It has now gained 3 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 0.485% from a day low at $22.68 to a day high of $22.79. The price has risen in 7 of the last 10 days and is up by 2.15% 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, 331 thousand more shares were traded than the day before. In total, 664 thousand shares were bought and sold for approximately $15.13 million.
The ETF lies in the upper part of a weak rising 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 $23.01 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 9.86% during the next 3 months and, with a 90% probability hold a price between $23.88 and $25.27 at the end of this 3-month period.
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EUFN Signals & Forecast
The iShares MSCI Europe Financials Sector 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 $22.56 and $21.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 13.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 MSCI Europe Financials Sector ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $20.76 and $20.63. 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 MSCI Europe Financials Sector finds support just below today's level at $20.76. If this is broken, then the next support from accumulated volume will be at $20.63 and $20.57.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.110 (0.485%) between high and low. For the last week, the ETF has had daily average volatility of 0.523%.
The iShares MSCI Europe Financials Sector ETF is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the ETF is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.
Our recommended stop-loss: $21.99 (-3.48%) (This ETF has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (EUFN) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect iShares MSCI Europe Financials Sector Index Fund to open at $22.75, and during the day (based on 14 day Average True Range), to move between $22.59 and $22.97, which gives a possible trading interval of +/-$0.193 (+/-0.85%) up or down from last closing price. If iShares MSCI Europe Financials Sector Index Fund takes out the full calculated possible swing range there will be an estimated 1.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.76, some $2.02 (8.87%) from the current price of $22.78, our system finds the risk reward attractive.
Is iShares MSCI Europe Financials Sector Index Fund ETF A Buy?
iShares MSCI Europe Financials Sector holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.786 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI Europe Financials Sector Index Fund of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$22.75 ( 0.132%) | $22.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EUFN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.86 | 0.351 % | |
R2 | 22.82 | 0.167 % | ||
R1 | 22.79 | 0.0528 % | ||
Current price: | 22.78 | |||
Support | S1 | 22.71 | -0.316 % | |
S2 | 22.68 | -0.430 % | ||
S3 | 22.64 | -0.615 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 22.78 | |||
Support | S1 | 20.76 | -8.87% | |
S2 | 20.63 | -9.44% | ||
S3 | 20.57 | -9.70% |
EUFN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.320 | 1.51% |
2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.729 | 3.88% |
3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.0720 | 0.421% |
4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.670 | 4.14% |
5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $0.414 | 2.16% |
FAQ
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