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March 15, 2023
IShares MSCI USA Value Factor ETF is down to $88.43, after ending yesterday at $90.19. Overall, a 1.95% loss or $1.76 today.
IShares MSCI USA Value Factor ETF is currently trading at $88.43 following the release of Crude Oil Inventories data from the United States.
With regards to technical trend indicators, chart analysis show that 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 momentum evaluation, the Relative Strength Index indicates iShares MSCI USA Value Factor ETF is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that iShares MSCI USA Value Factor ETF's lower Bollinger Band® is at $88.91, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
All in all, the technical analysis suggests iShares MSCI USA Value Factor ETF has no clear-cut direction.
In the meantime, negative performances are also seen in other markets, BP is trading around $35.84 (down $2.41). HSBC Holdings closed at $33.3 (down 5.22%). Exxon Mobil drops 4.2% to trade around $102.45.
Some optimism can drawn from the fact that United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) is scheduled for tomorrow at 12:30 UTC. United States Building Permits (Feb) is expected tomorrow 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 6.75% over the past three months.
