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May 15, 2023
Friday at a glance: iShares MSCI USA Value Factor ETF dipped as low as $87.63 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($88.45) with iShares MSCI USA Value Factor ETF closing the day at $88.16.
Amid the market gloom, United States NY Empire State Manufacturing Index (May) released today at 12:30 UTC with a figure of -31.8, while the previous figure was 10.8.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $87.06, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value. A study of iShares MSCI USA Value Factor ETF's chart reveals various key levels to watch: after reaching the $87.63 support zone, iShares MSCI USA Value Factor ETF bounced and climbed 53 cents above it.
With market volatility ebbing, the current technical outlook indicates iShares MSCI USA Value Factor ETF will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Diageo lost 2.58% Friday and closed at $182.94. Alibaba is down to $85.34, losing $2.55, after ending the previous session around $87.89.
Positive performances can be seen by looking at other markets as NextEra Energy is trading around $77.96 after ending Friday's session at $76.1 (up 2.44% today).
Some optimism can drawn from the fact that United States Retail Sales is projected to outperform its last figure with 0.7%. It previously stood at -0.6%; data will be released tomorrow at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%, having previously been at -0.4%. The figure will be published tomorrow at 12:30 UTC.
IShares MSCI USA Value Factor ETF is now trading 10.21% below its 3-month high of $103.
