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May 30, 2023
IShares MSCI USA Value Factor ETF weakened earlier in the day, before moving away from its $88.69 low and recovering back to $88.79.
United States's Consumer Confidence new data released of 102.3 below its previous figure.
Nonetheless, encouraging indicators for iShares MSCI USA Value Factor ETF published earlier when United States Consumer Confidence released today at 14:00 UTC is better than expected at 102.3 but down from preceding data of 103.7 according to new data.
While price action maintains a negative bias, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Mar) released today at 13:00 UTC with a figure of -1.1, while the previous figure was 0.4.
Trend analysis indicates that iShares MSCI USA Value Factor ETF made an initial break below its 21 day Simple Moving Average at $89.25, a possible indication of a forthcoming negative trend. After descending below strong Fibonacci support at $89.26, market bears have earmarked $88.06 as the next downside target. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $87.61, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value. Visual analysis of iShares MSCI USA Value Factor ETF's chart shows that iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 44 cents away from $88.35. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates iShares MSCI USA Value Factor ETF will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Anheuser-Busch is down to $54.56, losing $2.59, after closing at $57.15 in the preceding trading session. After ending Friday's session at $51.35, Unilever lost $1.43 and is trading around $49.92.
Positive performances can be seen by looking at other markets as Accenture plc Class A (Ireland) added 3.21% to its value, now trading at $313.33.
Furthermore, United States JOLTs Job Openings (Apr) will be released tomorrow at 14:00 UTC.
The fund has been trending lower for about a month. IShares MSCI USA Value Factor ETF is now trading 4.93% below its 3-month high of $102.47.
