Big movements in BOIL ETF price on Friday moving 15.00% between high and low

The BOIL ETF price gained 15.25% on the last trading day (Friday, 3rd Mar 2023), rising from $6.82 to $7.86. During the last trading day the ETF fluctuated 15.00% from a day low at $6.93 to a day high of $7.97. The price has risen in 7 of the last 10 days and is up by 35.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 million more shares were traded than the day before. In total, 78 million shares were bought and sold for approximately $611.03 million.

The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Mostly positive signals in the chart today. The BOIL ETF holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.61 and $7.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 21, 2023, and so far it has risen 78.23%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the ETF finds support just below today's level from accumulated volume at $6.67 and $6.47.There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, BOIL finds support just below today's level at $6.67. If this is broken, then the next support from accumulated volume will be at $6.47 and $6.28.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.04 between high and low, or 15.00%. For the last week, the ETF has had daily average volatility of 11.96%.

Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.