Amundi Index Solutions - Amundi S&P 500 ETF Forecast
Amundi Index Solutions - Amundi S&P 500 ETF upgraded to Strong Buy Candidate.
(Updated on Jun 28, 2024)
The Amundi Index Solutions - Amundi S&P 500 ETF price gained 0.438% on the last trading day (Friday, 28th Jun 2024), rising from 99.82€ to 100.26€. It has now gained 3 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 0.791% from a day low at 100.16€ to a day high of 100.95€. The price has risen in 7 of the last 10 days and is up by 1.27% 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, 11 thousand more shares were traded than the day before. In total, 26 thousand shares were bought and sold for approximately 2.62€ million.
The ETF lies in the middle of a weak 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 8.03% during the next 3 months and, with a 90% probability hold a price between 104.30€ and 109.73€ at the end of this 3-month period.
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500.PA Signals & Forecast
Mostly positive signals in the chart today. The Amundi Index Solutions - Amundi S&P 500 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. 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 99.93€ and 96.91€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 10.09%. 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.
Support, Risk & Stop-loss for Amundi Index Solutions - Amundi S&P 500 ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 93.77€ and 92.72€. 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, Amundi Index Solutions - Amundi S&P 500 finds support just below today's level at 93.77€. If this is broken, then the next support from accumulated volume will be at 92.72€ and 91.17€.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 0.792€ (0.791%) between high and low. For the last week, the ETF has had daily average volatility of 0.550%.
The Amundi Index Solutions - Amundi S&P 500 ETF is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: 96.99€ (-3.26%) (This ETF has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 63 days ago.)
Trading Expectations (500.PA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Amundi Index Solutions - Amundi S&P 500 UCITS ETF C EUR to open at 100.46€, and during the day (based on 14 day Average True Range), to move between 99.60€ and 100.92€, which gives a possible trading interval of +/-0.664€ (+/-0.66%) up or down from last closing price. If Amundi Index Solutions - Amundi S&P 500 UCITS ETF C EUR takes out the full calculated possible swing range there will be an estimated 1.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 93.77€, some 6.49€ (6.48%) from the current price of 100.26€, our system finds the risk reward attractive.
Is Amundi Index Solutions - Amundi S&P 500 UCITS ETF C EUR ETF A Buy?
Amundi Index Solutions - Amundi S&P 500 holds several positive signals and is within a weak 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.
Current score: 5.744 Strong Buy Candidate Upgraded
Predicted Opening Price for Amundi Index Solutions - Amundi S&P 500 UCITS ETF C EUR of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 100.46€ ( 0.199%) | 100.26€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 500.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 101.25 | 0.99% |
| R2 | 100.95 | 0.687% |
| R1 | 100.76 | 0.501% |
| Price | 100.26 | |
| S1 | 100.16 | -0.103% |
| S2 | 99.97 | -0.290% |
| S3 | 99.67 | -0.592% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 100.26 | |
| S1 | 93.77 | -6.48% |
| S2 | 92.72 | -7.52% |
| S3 | 91.17 | -9.07% |
FAQ
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