Today at a glance: with a daily low of $109.24, iShares iBoxx $ Investment Grade Corporate Bond ETF closed today at $110.83, after ending yesterday at $109.59 and gaining $1.24 (1.13%).
Uptick comes while some more positive signs for iShares iBoxx $ Investment Grade Corporate Bond ETF are out as United States Initial Jobless Claims beat the 215,000 projections, with 205,000.
At the same time, United States Consumer Price Index came out at -0.1%, while a consensus of analysts was expecting 0%. United States Core Consumer Prices released today at 13:30 UTC with a figure of 0.3%, while the previous figure was 0.2%.
Despite posting gains on today, iShares iBoxx $ Investment Grade Corporate Bond ETF slid below its 200 day Simple Moving Average at $109.42 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $110.84, thereby suggesting that iShares iBoxx $ Investment Grade Corporate Bond ETF is becoming overvalued.
Technical analysis suggests there could be an imminent reversal for iShares iBoxx $ Investment Grade Corporate Bond ETF.
Other markets are also showing gains as TSM is trading around $87 after ending today's session at $81.78 (up 6.38% today). Walt Disney rallies 3.61% today and closed at $96.33. Toyota jumps 2.53% today and closed at $138.85.
IShares iBoxx $ Investment Grade Corporate Bond ETF has managed to gain 3.23% so far this year despite trading at lows around $99.2 previously.