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April 22, 2023
A quick look at yesterday: iShares MSCI USA Value Factor ETF dipped as low as $91.16 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($91.85) with iShares MSCI USA Value Factor ETF closing the day at $91.62.
Meanwhile, United States Services PMI released yesterday at 13:45 UTC with a figure of 53.7, while the previous figure was 52.6. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 244,600, while the previous figure was 235,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 189,900, while the previous figure was 192,700.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Having stamped out a session range of $91.16 to $91.85, Fibonacci-inclined iShares MSCI USA Value Factor ETF traders were highly concentrated around active Fibonacci support at $91.51. Despite this, iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 38 cents away from $91.24. Dipping below could be an indication that further losses are ahead.
Looking forward, iShares MSCI USA Value Factor ETF is poised to extend its strong downtrend and continue declining.
Positive performances can be seen by looking at other markets as Procter & Gamble went up by 3.46% yesterday, and closed at $156.07. Novo Nordisk surges 4.4% yesterday and closed at $165.37. SAP added 5.59% and closed around $126.86 yesterday.
The fund has been trending positively for about 29 days. After hitting an important low of $81.86 approximately 6 months ago, iShares MSCI USA Value Factor ETF has bounced back 12.11% since.
