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May 21, 2023
Though in the midst of a 4 day uptrend, gaining a total of 2.26%, ($2.07), The prevailing bullish trend is beginning to fade following Friday's downbeat session. Down on the day: iShares MSCI USA Value Factor ETF closed at $89.7 after ranging between $89.37 and $90.27.
IShares MSCI USA Value Factor ETF made an initial break below its 21 day Simple Moving Average at $89.76, a possible indication of a forthcoming negative trend. Despite this, although iShares MSCI USA Value Factor ETF is down today and was as low as $89.37, it seems to be recovering slightly and climbing away from the $89.29 support line and is now 41 cents above it.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting iShares MSCI USA Value Factor ETF to extend its recent losses.
In the meantime, negative performances are also seen in other markets, Nike dips 3.46% Friday and closed at $118.87. Walt Disney is down to $91.35, losing $2.41, after ending the previous session around $93.76.
The fund has been trending lower for about a month. IShares MSCI USA Value Factor ETF is now trading 5.59% below its 3-month high of $103.
