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May 26, 2023
- IShares Preferred & Income Securities ETF's downtrend is set to be challenged by looming key support at $29.82
- Bollinger analysis indicates upper Band® is at $157.78
IShares Preferred and Income Securities ETF made an initial foray below its 21 day Simple Moving Average around $30.12. Bearish sentiment was sufficient to push prices below the known Fib level of $30.11 serving as intraday support. Despite this, $29.82 is only 14 cents away for iShares Preferred & Income Securities ETF and might put a stop to its current downtrend.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting iShares Preferred & Income Securities ETF to extend its recent losses.
IShares Core U.S. Aggregate Bond ETF chart analysis: iShares Core U.S. Aggregate Bond ETF is trending down and heading towards $97.35, which is only 14 cents away now. Hitting this support line might signal a change of direction. Trend and momentum analysis indicates that iShares Core U.S. Aggregate Bond ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Analysis based on the asset volatility indicates that iShares Core U.S. Aggregate Bond ETF's lower Bollinger Band® is at $97.23, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, iShares Core U.S. Aggregate Bond ETF remains flat without a clear direction.
Trend analysis indicates that Vanguard Dividend Appreciation ETF's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Yesterday's price action generated a Japanese candlestick pattern showing Vanguard Dividend Appreciation ETF has formed a "bullish harami” candlestick pattern — typically an early indicator of a fading bear trend. Asset volatility analysis shows that Vanguard Dividend Appreciation ETF's lower Bollinger Band® is at $152.58. Technical chart analysis shows a convincing break of this target could pave the way for deeper losses.
For the time being, Vanguard Dividend Appreciation ETF remains flat without a clear direction.
Fundamental indicators – highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.
Upcoming fundamentals: today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.3%.
