iShares Global Infrastructure ETF Forecast

Weaker technical forecast for iShares Global Infrastructure as ETF downgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)

IGF Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.70%. Further rise is indicated until a new top pivot has been found. 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. The iShares Global Infrastructure ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $46.13 and $46.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for iShares Global Infrastructure ETF

iShares Global Infrastructure finds support from accumulated volume at $45.33 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 $0.310 between high and low, or 0.677%. For the last week the ETF has had daily average volatility of 1.35%.

Our recommended stop-loss: $43.60 (-5.27%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (IGF) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect iShares Global Infrastructure to open at $45.96, and during the day (based on 14 day Average True Range), to move between $45.50 and $46.54, which gives a possible trading interval of +/-$0.525 (+/-1.14%) up or down from last closing price. If iShares Global Infrastructure takes out the full calculated possible swing range there will be an estimated 2.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $46.36 (0.74%) than the support at $45.33 (1.50%), 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 Global Infrastructure ETF A Buy?

iShares Global Infrastructure 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. 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: 0.706 Hold/Accumulate Downgraded

Predicted Opening Price for iShares Global Infrastructure of Friday, April 19, 2024

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