(IEVD) iShares Electric Vehicles - Ratings and Ratios

The iShares Electric Vehicles and Driving Technology UCITS ETF USD (Acc) is a sector-specific exchange-traded fund listed on the XETRA exchange, providing investors with exposure to the global electric vehicles and driving technology industry. As a technology-focused ETF, it tracks the Morningstar Global Tech NR USD index, allowing investors to tap into the growth potential of companies driving innovation in the electric vehicle and autonomous driving sectors.

With its investment objective centered around the electric vehicle and driving technology theme, this ETF offers a diversified portfolio of stocks that are poised to benefit from the ongoing shift towards sustainable transportation and technological advancements in the automotive industry. The funds underlying index is designed to capture the performance of companies involved in the development and manufacturing of electric vehicles, autonomous driving technologies, and related components.

From a technical analysis perspective, the ETFs price action indicates a relatively stable trend, with its 20-day simple moving average (SMA) at $6.78, slightly above the current price of $6.74. The 50-day SMA at $6.47 provides a bullish signal, as the price is currently trading above this level. However, the 200-day SMA at $6.88 may pose a resistance level, potentially capping the upside. The average true range (ATR) of 0.12, equivalent to 1.72%, suggests moderate volatility.

Considering the funds assets under management (AUM) of €703.76M, it is evident that the ETF has garnered significant investor interest, potentially due to its focused investment strategy and the growth prospects of the underlying industry. As the global electric vehicle market continues to expand, driven by government regulations, declining battery costs, and increasing consumer demand, this ETF is well-positioned to capitalize on the trend.

Forecasting the ETFs future performance, we can expect the price to be influenced by the ongoing growth of the electric vehicle and autonomous driving industries. Assuming the trend continues, the ETFs price may potentially break through the 200-day SMA resistance level, targeting the 52-week high of $7.67. Conversely, a decline in investor sentiment or a correction in the underlying index may lead to a retest of the 52-week low of $5.35. Based on the current technical and fundamental data, a potential price target for the ETF could be around $7.20-$7.50, representing a 6-11% upside from the current price.