IEF climbs to highest close since January 3rd


iShares 7-10 Year Treasury Bond ETF (IEF) Technical Analysis Report for Mar 15, 2019 | by Techniquant Editorial Team

Highlights

IEF rises to highest close since January 3rd
IEF closes above its opening price after recovering from early selling pressure
IEF ends the day indecisive

Overview

IEF finished the week 0.33% higher at 105.09 after gaining $0.33 (0.32%) today on high volume. Today's close at 105.09 marks the highest recorded closing price since January 3rd. Trading up to $0.11 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on March 8th, IEF actually lost -0.08% on the following trading day. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (IEF as at Mar 15, 2019):

Daily technical analysis candlestick chart for iShares 7-10 Year Treasury Bond ETF (IEF) as at Mar 15, 2019

Friday's trading range has been $0.20 (0.19%), that's slightly below the last trading month's daily average range of $0.22. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for IEF.

One bullish candlestick pattern matches today's price action, the Bullish Spinning Top.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With prices trading close to this year's high at 105.32, upside momentum could accelerate should the ETF be able to break out to new highs for the year.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Spinning Top" stand out. Its common bullish interpretation has been confirmed for IEF. Out of 175 times, IEF closed higher 60.57% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 54.86% with an average market move of 0.09%.


Market Conditions for IEF as at Mar 15, 2019

Loading Market Conditions for IEF (iShares 7-10 Year Treasury Bond ETF)...
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IEF breaks below Friday's low

May 20, 2019
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