Very red day for BOIL ETF price after -5.23% fall in Thursday trading session

The BOIL ETF price fell by -5.23% on the last day (Thursday, 13th Apr 2023) from $3.25 to $3.08. During the last trading day the ETF fluctuated 4.97% from a day low at $3.02 to a day high of $3.17. The price has fallen in 6 of the last 10 days and is down by -13.97% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -6 million shares and in total, 79 million shares were bought and sold for approximately $243.07 million.

The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.63 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the ETF is expected to fall -53.43% during the next 3 months and, with a 90% probability hold a price between $1.22 and $2.46 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.

There are mixed signals in the ETF today. The BOIL ETF holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.30 and $4.76. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, April 06, 2023, and so far it has risen 1.65%. 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).

BOIL finds support from accumulated volume at $3.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 4.97%. For the last week, the ETF has had daily average volatility of 9.12%.

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.