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June 15, 2023
After closing the previous trading day at $93.06, iShares MSCI USA Value Factor ETF is up to $93.52, which makes for a move of 0.49%/46 cents today.
This move comes while some more positive signs for iShares MSCI USA Value Factor ETF are out as United States Retail Sales released today at 12:30 UTC is better than expected at 0.3% but down from preceding data of 0.4% according to new data.
On the flip side, new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).
At the same time, United States Philadelphia Fed Manufacturing Index (Jun) came out at -13.7, while a consensus of analysts was expecting -13.5.
Trend-focused traders would be interested to note that investors are seeking long positions as iShares MSCI USA Value Factor ETF price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Japanese candlestick formations show a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. According to asset volatility analysis, iShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $94, this is a slight indication of a slowdown.
Overall, while iShares MSCI USA Value Factor ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as Anheuser-Busch is up 2.06%. Unilever gained 1.91% and is currently trading at $51.18. UnitedHealth leaps up 2.33% to trade around $468.64.
The fund has been trending positively for about 30 days. Approximately 4 months ago, iShares MSCI USA Value Factor ETF reached a significant high of $99.54 but has struggled to hold onto its gains and declined 6.51% since then.
