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July 03, 2023
IShares Global Clean Energy ETF recovered back to $18.4 after dipping down to $18.37, in a session that followed Friday's $18.4 close value.
- IShares Global Clean Energy ETF is currently trading at $18.4 following the release of ISM Manufacturing PMI (Jun) data from the United States.
- While flat today, iShares Global Clean Energy ETF is on a 6 day bullish trend, gaining a total of 62 cents throughout.
United States ISM Manufacturing PMI (Jun) came out at 46, while a consensus of analysts was expecting 47.2. United States ISM Manufacturing Employment (Jun) released today at 14:00 UTC with a figure of 48.1, while the previous figure was 51.4.
A study of iShares Global Clean Energy ETF's historical price actions shows iShares Trust – iShares Global Clean Energy ETF is approaching key support, around 20 cents away from $18.2. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. With regards to technical trend indicators, chart analysis show that iShares Global Clean Energy ETF made an initial break below its 21 day Simple Moving Average at $18.42, a possible indication of a forthcoming negative trend.
Notwithstanding iShares Global Clean Energy ETF's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Astrazeneca PLC lost 8.83% today and closed at $71.57. Tesla is trading around $279.82 after ending today's session at $261.77 (up 6.9% today). Notably, United Parcel Service rose 2.52% today and closed at $179.25.
All in all, the fund has been on a negative trend for around a month. IShares Global Clean Energy ETF has fallen back around 22.07% from the significant high of $23.61 set 10 months ago.
