IYM iShares US Basic Materials ETF Forecast, Technical & Fundamental Analysis
IYM's RSI Indicator ascending out of oversold territory
The RSI Indicator for IYM moved out of oversold territory on January 06, 2025. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 34 similar instances when the indicator left oversold territory. In of the 34 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 51 cases where IYM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for IYM just turned positive on January 07, 2025. Looking at past instances where IYM's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where IYM advanced for three days, in of 355 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The 50-day moving average for IYM moved below the 200-day moving average on December 31, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IYM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for IYM entered a downward trend on January 08, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
General Information
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IYM and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, IYM has been closely correlated with XLB. These tickers have moved in lockstep 97% of the time. This A.I.-generated data suggests there is a high statistical probability that if IYM jumps, then XLB could also see price increases.