BOIL ETF upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session

The BOIL ETF price gained 2.76% on the last trading day (Thursday, 13th Feb 2025), rising from $68.72 to $70.62. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 8.89% from a day low at $69.98 to a day high of $76.20. The price has risen in 8 of the last 10 days and is up by 36.83% 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, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $225.77 million.

The ETF lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the ETF is expected to rise 46.12% during the next 3 months and, with a 90% probability hold a price between $81.87 and $128.06 at the end of this 3-month period.

The BOIL ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $65.21 and $60.44. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, January 16, 2025, and so far it has fallen -10.47%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the ETF finds support just below today's level from accumulated volume at $64.83 and $59.87.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 $64.83. If this is broken, then the next support from accumulated volume will be at $59.87 and $55.82.

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 $6.22 between high and low, or 8.89%. For the last week, the ETF has had daily average volatility of 6.34%.

BOIL holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.