ALPS Clean Energy ETF Forecast

ALPS Clean Energy ETF upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)

ACES Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.791%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ALPS Clean Energy 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 $27.63 and $28.66. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for ALPS Clean Energy ETF

ALPS Clean Energy finds support from accumulated volume at $26.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.400 between high and low, or 1.53%. For the last week the ETF has had daily average volatility of 2.97%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ACES) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect ALPS Clean Energy ETF to open at $26.30, and during the day (based on 14 day Average True Range), to move between $25.44 and $27.06, which gives a possible trading interval of +/-$0.81 (+/-3.09%) up or down from last closing price. If ALPS Clean Energy ETF takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.04 (0.78%) than the resistance at $28.97 (10.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ALPS Clean Energy ETF ETF A Buy?

ALPS Clean Energy holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.876 Sell Candidate Upgraded

Predicted Opening Price for ALPS Clean Energy ETF of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.