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June 27, 2023
Tentatively higher from an earlier low of $17.81, iShares Global Clean Energy ETF is up to $17.98 today, adding 15.5 cents, or 0.87%, to yesterday's closing price of $17.82.
New United States Consumer Confidence improved upon the previous 102.5 figure while also exceeding analyst expectations with a reading of 109.7.
Uptick comes while some more positive signs for iShares Global Clean Energy ETF are out as highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 109.7. Data for United States Core Durable Goods Orders published today at 12:30 UTC came out at 0.6%, beating projections of -0.1% and showing improvement over the preceding figure of -0.6%.
At the same time, United States New Home Sales (May) released today at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000.
IShares Trust – iShares Global Clean Energy ETF could be slowing down soon as it approaches resistance at $18.13. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw iShares Global Clean Energy ETF dropping below its 3 day Simple Moving Average at $17.89 — an early indicator that a new downward trend could be emerging. In contrast, iShares Global Clean Energy ETF's lower Bollinger Band® is at $17.83, indicating that the market is oversold and fertile for new buyers.
Technical analysis suggests there could be an imminent reversal for iShares Global Clean Energy ETF.
IShares Global Clean Energy ETF shows positive signs, other assets are also on par: having closed the previous session at $278.47, Meta Platforms is up 3.72% today to currently trade at around $288.84. Having closed the previous session at $2,615.76, Booking Holdings is up 3.59% today to currently trade at around $2,709.73. Texas Instruments rallies 3.94% to trade around $175.4.
Moreover, macro data could boost sentiment further as United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million, having previously been at -3.83 million. The figure will be published tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Fed Chair Powell speech set for tomorrow at 13:30 UTC.
All in all, the fund has been on a negative trend for around a month. Over the past 10 months, iShares Global Clean Energy ETF has retreated 24.52% from a noteworthy peak of $23.61.
