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April 17, 2023
Today at a glance: iShares MSCI USA Value Factor ETF closed today at $93.55 (with a daily low of $92.86) after ending Friday at $93.07 and gaining 0.52%.
Meanwhile, United States TIC Net Long-Term Transactions (Feb) released today at 20:00 UTC with a figure of 71 billion, while the previous figure was 31.9 billion. United States NY Empire State Manufacturing Index (Apr) came out at 10.8, while a consensus of analysts was expecting -18.
Trend and momentum analysis indicates that iShares MSCI USA Value Factor ETF made an initial breakout above its 50 day Simple Moving Average at $93.43, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $93.08 currently serving as resistance Analysis based on the asset volatility indicates that iShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $94.92, this is a slight indication of a slowdown. A study of iShares MSCI USA Value Factor ETF's chart reveals various key levels to watch: iShares MSCI USA Value Factor ETF could be slowing down soon; it is getting close to the resistance line and is now at $93.76, only 21 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Notwithstanding iShares MSCI USA Value Factor ETF's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as Wells Fargo & Company added 4.19% and closed around $39.64 today. Notably, ProLogis rose 2.82% today and closed at $119.76.
At the same time, Alphabet drops 2.78% today and closed at $109.46.
The market is looking forward to the release of new data: United States Building Permits (Mar) scheduled to come out tomorrow at 12:30 UTC.
After hitting an important low of $81.86 approximately 6 months ago, iShares MSCI USA Value Factor ETF has bounced back 13.69% since.
