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June 11, 2023
Though in the midst of an 8 day uptrend, gaining a total of 3.94%, ($3.63), Friday's session suggests run might be coming to an end — down on the day: iShares MSCI USA Value Factor ETF closed at $91.7 after ranging between $91.52 and $92.17.
IShares MSCI USA Value Factor ETF made an initial break below its 200 day Simple Moving Average at $91.97, a possible indication of a forthcoming negative trend. IShares MSCI USA Value Factor ETF is currently flirting with an active Fibonacci support level around $91.93. IShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $92.31 which indicates a further downward move may follow. In contrast, iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 28 cents away from $91.42. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for iShares MSCI USA Value Factor ETF.
In the meantime, negative performances are also seen in other markets, after ending Friday's session at $124.91, ProLogis lost $3.6 and is trading around $121.31.
Other assets are showing positive performances as Adobe is trading around $454 after ending Friday's session at $439.03 (up 3.41% today).
IShares MSCI USA Value Factor ETF has fallen back around 7.73% from the significant high of $99.54 set 4 months ago.
