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June 15, 2023
After closing the previous trading day at $18.57, iShares Global Clean Energy ETF is up to $18.75, which makes for a move of 0.97%/18 cents today.
This move comes while some more positive signs for iShares Global Clean Energy ETF are out as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.
Nevertheless, new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).
At the same time, United States Philadelphia Fed Manufacturing Index (Jun) came out at -13.7, while a consensus of analysts was expecting -13.5.
Concerning technical analysis and more specifically, trend indicators, iShares Trust – iShares Global Clean Energy ETF made an initial breakout above its 21 day Simple Moving Average at $18.65, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, iShares Global Clean Energy ETF's upper Bollinger Band® is at $18.86, this is a slight indication of a slowdown. As the trading day commences, technical analysis suggests iShares Global Clean Energy ETF is 8 cents away from testing key resistance at $18.83. Peaking above this level could inspire market bulls and open the path to further gains.
With market volatility ebbing, the current technical outlook indicates iShares Global Clean Energy ETF will remain range-bound for the immediate future.
Other markets are also showing gains as Anheuser-Busch gained 2.29% and is now trading at $57.97. Unilever is up 1.92%. UnitedHealth is up 2.31%.
Trading mostly sideways for a month. Approximately 10 months ago, iShares Global Clean Energy ETF reached a significant high of $23.61 but has struggled to hold onto its gains and declined 21.35% since then.
