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June 27, 2023
IShares MSCI USA Value Factor ETF spikes to $92.75 gaining $1.17.
New United States Consumer Confidence improved upon the previous 102.5 figure while also exceeding analyst expectations with a reading of 109.7.
Uptick comes while some more positive signs for iShares MSCI USA Value Factor ETF are out as United States Consumer Confidence came out at 109.7, better than analyst estimates of 104 and improving upon the previous reading of 102.5. United States Core Durable Goods Orders beat analyst expectations of -0.1% and the previous reading of -0.6% with new data of 0.6%.
Meanwhile, United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000.
IShares MSCI USA Value Factor ETF broke through the $91.96 resistance and climbed above it 78 cents; next resistance level is at $92.35. IShares MSCI USA Value Factor ETF made an initial breakout above its 200 day Simple Moving Average at $91.9, a potential indicator of a newly emerging bullish phase. Crossed the $91.87 Fibonacci level, next level is at $94.13.
Overall, looking at the technical analysis landscape, it seems iShares MSCI USA Value Factor ETF might continue pointing upwards in the short term.
IShares MSCI USA Value Factor ETF shows positive signs, other assets are also on par: Booking Holdings gained 3.75% and is now trading at $2,713.8. Meta Platforms is up 3.33% to $287.74. Texas Instruments jumps 3.8% to trade around $175.16.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million, having previously been at -3.83 million. The figure will be published tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Fed Chair Powell speech will be released tomorrow at 13:30 UTC.
4 months ago iShares MSCI USA Value Factor ETF reached a significant high of $99.54 but has consequently lost 8% since then.
