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February 26, 2023
A quick look at Friday: a tough session dominated by bearish sentiment left VLUE 82 cents lower, while setting a $93.6 to $94.5 session range.
IShares MSCI USA Value Factor ETF made an initial break below its 200 day Simple Moving Average at $93.64, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $93.68 currently serving as support. If price action breaks below, the next Fib hurdle is $92.94. In contrast, iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 54 cents away from $93.77. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $93.97, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for iShares MSCI USA Value Factor ETF.
In the meantime, negative performances are also seen in other markets, after ending Friday's session at $347, Adobe lost $26.46 and is trading around $320.54. Alibaba is down to $89, losing $5.16, after ending the previous session around $94.16.
Positive performances can be seen by looking at other markets as Linde is trading around $347.66 after ending Friday's session at $331.89 (up 4.75% today).
Looking ahead, ongoing depreciation may be prolonged as United States Pending Home Sales projected to come out at 1% — worse than previous data of 2.5%; data will be released tomorrow at 15:00 UTC.
In addition, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.2%. The figure will be published tomorrow at 13:30 UTC.
IShares MSCI USA Value Factor ETF hit a significant low of $81.86 around 4 months ago, but has since recovered 16.21%.
