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May 12, 2023
Yesterday at a glance: iShares Global Clean Energy ETF dipped as low as $18.4 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($18.58) with iShares Global Clean Energy ETF closing the day at $18.5.
United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts. United States Initial Jobless Claims fell short of the 245,000 projections, with new data of 264,000.
Amid the market gloom, United States Import Price Index came out at 0.4%, while a consensus of analysts was expecting 0.3%.
Despite being in the red so far in the current trading session, iShares Trust – iShares Global Clean Energy ETF peaked above its 10 day Simple Moving Average around $18.5 — typically an early indicator of a new bullish trend beginning to emerge. IShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 9 cents away from $18.41. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems iShares Global Clean Energy ETF might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Walt Disney lost 8.73% yesterday and closed at $101.14.
Positive performances can be seen by looking at other markets as Alibaba added 5.96% and closed around $82.95 yesterday. Alphabet went up by 4.11% yesterday, and closed at $116.9.
Over the past 9 months, iShares Global Clean Energy ETF has retreated 21.3% from a noteworthy peak of $23.61.
