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March 12, 2023
A quick look at Friday: iShares Global Clean Energy ETF dipped as low as $19.03 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($19.54) with iShares Global Clean Energy ETF closing the day at $19.17.
IShares Trust – iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 24 cents away from $18.93. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, iShares Global Clean Energy ETF peaked above its 21 day Simple Moving Average around $19.58 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $18.89, a low enough level to, generally, suggest that iShares Global Clean Energy ETF is trading below its fair value. On the other hand, note that iShares Global Clean Energy ETF is currently flirting with an active Fibonacci support level around $19.38.
Technical analysis indicates that iShares Global Clean Energy ETF (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, The Charles Schwab tumbles 11.69% Friday and closed at $66.47. Caterpillar crashes 5.79% Friday and closed at $240.96. Deere & Company is down to $395.93, losing $25.49, after ending the previous session around $421.42.
IShares Global Clean Energy ETF has shed 16.77% over the past six months.
