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May 14, 2023
A quick look at Friday: iShares MSCI USA Value Factor ETF dipped as low as $87.63 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($88.45) with iShares MSCI USA Value Factor ETF closing the day at $88.16.
Trend and momentum analysis indicates 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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $87.06, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value. A study of iShares MSCI USA Value Factor ETF's historical price actions shows iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 53 cents away from $87.63. Dipping below could be an indication that further losses are ahead.
Overall, the technical outlook suggests iShares MSCI USA Value Factor ETF is likely to remain muted for the immediate future, with no clear-cut direction.
In the meantime, negative performances are also seen in other markets, Diageo is down to $178.22, losing $4.72, after ending the previous session around $182.94. Alibaba is down to $85.34, losing $2.55, after ending the previous session around $87.89.
Positive performances can be seen by looking at other markets as NextEra Energy is trading around $77.96 after ending Friday's session at $76.1 (up 2.44% today).
IShares MSCI USA Value Factor ETF has shed 10.33% over the past three months.
