| 
May 29, 2023
A quick look at Friday: after finishing Thursday at $87.85, iShares MSCI USA Value Factor ETF went up to $89.27 before paring its losses and closing at $89.11.
Technical analysis trend indicators suggest that iShares MSCI USA Value Factor ETF made an initial breakout above its 10 day Simple Moving Average at $88.89, a potential indicator of a newly emerging bullish phase. Fibonacci-minded traders witnessed a key Fib resistance level of $89.26 holding firm – an indicator of highly concentrated supply around this level. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $90.41, thereby suggesting that iShares MSCI USA Value Factor ETF is becoming overvalued. Technical chart analysis shows iShares MSCI USA Value Factor ETF could be slowing down soon; it is getting close to the resistance line and is now at $89.56, only 46 cents away. Crossing the resistance line could, however, suggest that further gains 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.
IShares MSCI USA Value Factor ETF shows positive signs, other assets are also on par: notably, Costco rose 4.26% Friday and closed at $486.55. Intel leaps up 5.84% Friday and closed at $27.4. Netflix went up by 5.54% Friday, and closed at $378.88.
Also worthy of note, United States Consumer Confidence projected to decline to 99 while previous data was 101.3; data will be released tomorrow at 14:00 UTC.
All in all, the fund has been on a negative trend for around a month. IShares MSCI USA Value Factor ETF has shed 5% over the past three months.
