IShares MSCI USA Value Factor ETF continued its four days losing streak, dropping by 37 cents, closing at $87.85

Yesterday at a glance: iShares MSCI USA Value Factor ETF dipped as low as $87.16 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($88.06) with iShares MSCI USA Value Factor ETF closing the day at $87.85.

Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

On the flip side, United States GDP released yesterday at 12:30 UTC is better than expected at 1.3 but down from preceding data of 2.6 according to new data. Data for United States Initial Jobless Claims released yesterday at 12:30 UTC is better than expected with 229,000, but worse than previous figure of 225,000.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, iShares MSCI USA Value Factor ETF's lower Bollinger Band® is at $87.25, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of iShares MSCI USA Value Factor ETF's chart reveals various key levels to watch: iShares MSCI USA Value Factor ETF reversed direction at $87.29 support zone and climbed 56 cents above it.

Overall, the technical outlook suggests iShares MSCI USA Value Factor ETF is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, AT&T tumbles 5% yesterday and closed at $15.95.

Positive performances can be seen by looking at other markets as NVIDIA went up by 24.37% yesterday, and closed at $379.8. TSM went up by 12% yesterday, and closed at $100.95.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Core Durable Goods Orders are set for a continuation of decline with 0% while previous data was 0.3%; data will be released today at 12:30 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Apr) will be released today at 12:30 UTC.

All in all, the fund has been on a negative trend for around a month. IShares MSCI USA Value Factor ETF has shed 6.82% over the past three months.