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The BOIL ETF price gained 8.11% on the last trading day (Monday, 17th Apr 2023), rising from $3.33 to $3.60. During the last trading day the ETF fluctuated 4.26% from a day low at $3.52 to a day high of $3.67. The price has been going up and down for this period, and there has been a -0.28% loss for the last 2 weeks. Volume fell on the last day by -33 million shares and in total, 70 million shares were bought and sold for approximately $250.69 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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.Given the current short-term trend, the ETF is expected to fall -52.47% during the next 3 months and, with a 90% probability hold a price between $1.17 and $2.49 at the end of this 3-month period. 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.
A buy signal was issued from a pivot bottom point on Thursday, April 06, 2023, and so far it has risen 18.81%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BOIL ETF holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term moving average at $4.63. On a fall, the ETF will find some support from the short-term average at $3.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
On the downside, the ETF finds support just below today's level from accumulated volume at $3.36 and $3.33.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 $3.36. If this is broken, then the next support from accumulated volume will be at $3.33 and $3.03.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.150 between high and low, or 4.26%. For the last week, the ETF has had daily average volatility of 7.93%.
BOIL holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Check full BOIL forecast and analysis here.