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June 17, 2023
On a 13 day uptrend, Yesterday's session put the brakes on the ongoing uptrend — without a clear direction, iShares MSCI USA Value Factor ETF closed at $94.13 while ranging between $93.89 and $94.59.
IShares MSCI USA Value Factor ETF's state is reflected by market data as United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 15,700, while the previous figure was 8,800. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -331,400, while the previous figure was -344,500. Fresh CFTC Crude Oil speculative net positions data from United States came out at 155,100.
IShares MSCI USA Value Factor ETF chart analysis: iShares MSCI USA Value Factor ETF is approaching key support, around 31 cents away from $93.82. 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. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that iShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $95.12, suggesting that a downward move may follow.
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.
While iShares MSCI USA Value Factor ETF was pretty flat yesterday, mixed performances were seen elsewhere as Toyota lost 2.28% yesterday and closed at $168.18. Bristol-Myers Squibb Company went up by 2.3% yesterday, and closed at $66.16.
The fund has been trending positively for about a month. IShares MSCI USA Value Factor ETF hit a significant low of $81.86 around 8 months ago, but has since recovered 14.95%.
