iShares MSCI Europe Financials Sector ETF Forecast

iShares MSCI Europe Financials Sector ETF upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

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, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.90 and $22.25. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -2.84%. 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).

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 $20.63 and $20.57. 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 $20.63. If this is broken, then the next support from accumulated volume will be at $20.57 and $20.42.

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 $0.230 between high and low, or 1.04%. For the last week the ETF has had daily average volatility of 0.92%.

Our recommended stop-loss: $21.33 (-4.21%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (EUFN) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect iShares MSCI Europe Financials Sector Index Fund to open at $22.23, and during the day (based on 14 day Average True Range), to move between $22.00 and $22.54, which gives a possible trading interval of +/-$0.270 (+/-1.21%) 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 2.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.68 (1.84%) than the support at $20.63 (7.36%), 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 MSCI Europe Financials Sector Index Fund ETF A Buy?

iShares MSCI Europe Financials Sector holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.026 Hold/Accumulate Upgraded

Predicted Opening Price for iShares MSCI Europe Financials Sector Index Fund of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.