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Trading Signals

VLUE is trading at $91.62, its target level is $91.24

24 April 2023

DRIPVLUEXLB

IShares MSCI USA Value Factor ETF's downtrend is set to be challenged by looming key support at $91.24
Upper Bollinger Band® currently at $15.63

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's run now faces a challenge at $14.89, which is only 22 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Despite posting gains on Friday, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares slid below its 50 day Simple Moving Average at $14.53 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 $15.63, thereby suggesting that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is becoming overvalued. Despite this, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is hovering above a known Fibonacci resistance level of $14.78.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is set for a reversal in the coming days.

$80.95 marks the crossover point where Materials Select Sector SPDR Fund price action falls below its 10 day Simple Moving Average. In contrast, Materials Select Sector SPDR Fund's downtrend might be halted by its support level at $80.24, which is only 46 cents away.

Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Materials Select Sector SPDR Fund to extend its recent losses.

IShares MSCI USA Value Factor ETF's bullish momentum is stalling and could turn negative in the short-term after the MACD crossed below its signal line — typically considered to be an early indicator of forthcoming bearish momentum. IShares MSCI USA Value Factor ETF is currently flirting with an active Fibonacci support level around $91.51. On the other hand, note that a convincing break of this target could pave the way for deeper losses.

Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting iShares MSCI USA Value Factor ETF to extend its recent losses.

Upcoming fundamentals: United States Building Permits scheduled to come out tomorrow at 13:30 UTC.

Market Summary

Latest ETF News

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VXF now at $138.19 | Forthcoming price target: 19 cents lower at $138

3 ETFs endured heavy trading volumes despite listless price action

Today at 14:00 UTC: United States Pending Home Sales, iShares MSCI USA Value Factor ETF steady at $89.34

VIXY is trading at $7.58, its target level is $7.48

Losing streak continues: Industrial Select Sector SPDR Fund down 23 cents, closed at $100.61 adding to its four days of losses

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