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April 10, 2023
A quick look at Thursday: after ending Wednesday at $92, iShares MSCI USA Value Factor ETF went up to $92.27 only to drop back to its starting point and close at $91.97.
Technical analysis of iShares MSCI USA Value Factor ETF's past price action reveals multiple support and resistance levels: iShares MSCI USA Value Factor ETF is approaching key support, around 28 cents away from $91.69. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-focused traders would be interested to note that iShares MSCI USA Value Factor ETF made an initial breakout above its 5 day Simple Moving Average at $92.26, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that iShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $93.42, suggesting that a downward move may follow.
All in all, the technical analysis suggests iShares MSCI USA Value Factor ETF has no clear-cut direction.
While iShares MSCI USA Value Factor ETF was pretty flat Thursday, mixed performances were seen elsewhere as notably, Alphabet rose 3.76% Thursday and closed at $104.95. Alibaba surges 4.25% Thursday and closed at $98.55. Microsoft went up by 2.55% Thursday, and closed at $291.6.
Data to be released today might clear up some of the market fog as United States EIA Short-Term Energy Outlook is expected tomorrow at 16:00 UTC.
IShares MSCI USA Value Factor ETF hit a significant low of $81.86 around 6 months ago, but has since recovered 12.41%.
