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April 14, 2023
As the current session draws to a close, iShares MSCI USA Value Factor ETF remains in the $92.53 – $93.84 range after dropping 0.16%.
Highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%. Highly important Retail Sales data from United States beat analyst expectations of -0.4% with a reading of -1%. United States Producer Price Index published yesterday at 12:30 UTC came out at -0.5%, falling short of the 0.1% projections and continuing its decline from the previous 0% figure.
IShares MSCI USA Value Factor ETF made an initial break below its 200 day Simple Moving Average at $92.78, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $93.08 serving as intraday support. On the other hand, note that iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 53 cents away from $92.49. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts iShares MSCI USA Value Factor ETF to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the iShares MSCI USA Value Factor ETF is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Boeing is trading around $201.78 (down $11.81).
Other assets are showing positive performances as JP Morgan Chase is up 7.62%. Having closed the previous session at $670.73, BlackRock is up 3.31% today to currently trade at around $692.91.
IShares MSCI USA Value Factor ETF is now trading 13.82% above the significant low ($81.86) it slumped to 6 months ago.
