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June 05, 2023
Today at a glance: iShares Global Clean Energy ETF slid down from $18.77 to $18.7, taking a 7 cents loss (0.37%)
IShares Global Clean Energy ETF is currently trading at $18.7 following the release of ISM Non-Manufacturing PMI (May) data from the United States.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8. United States Services PMI released today at 13:45 UTC with a figure of 54.9, while the previous figure was 53.6. Following a previous reading of 0.6%, Factory Orders in United States released today at 14:00 UTC fell short of the 1.1% figure expected by analysts with an actual reading of 0.4%.
IShares Trust – iShares Global Clean Energy ETF made an initial break below its 21 day Simple Moving Average at $18.66, a possible indication of a forthcoming negative trend. IShares Global Clean Energy ETF's upper Bollinger Band® is at $19.11 which indicates a further downward move may follow. In contrast, after reaching the $18.62 support zone, iShares Global Clean Energy ETF bounced and climbed 8 cents above it.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting iShares Global Clean Energy ETF to extend its recent losses.
In the meantime, negative performances are also seen in other markets, Intel dips 4.63% today and closed at $31.31. The Blackstone Group Inc. dips 3.91% today and closed at $89. Nike lost 2.39% today and closed at $107.78.
Furthermore, United States EIA Short-Term Energy Outlook will be released tomorrow at 16:00 UTC.
The fund has been trending positively for about a month. IShares Global Clean Energy ETF has fallen back around 20.5% from the significant high of $23.61 set 9 months ago.
