CSOP FTSE CHINA A50 ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of CSOP FTSE CHINA A50 ETF downgraded after the last trading session.
(Updated on Jun 27, 2024)
The CSOP FTSE CHINA A50 ETF price fell by -0.0716% on the last day (Thursday, 27th Jun 2024) from $13.96 to $13.95. During the last trading day the ETF fluctuated 0.180% from a day low at $13.93 to a day high of $13.95. The price has risen in 5 of the last 10 days but is still down by -1.27% 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 -121 shares and in total, 424 shares were bought and sold for approximately $5.91 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.94 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect CSOP FTSE CHINA A50 ETF with a 90% probability to be traded between $13.79 and $14.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AFTY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.0007%. 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 CSOP FTSE CHINA A50 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 $13.99 and $14.40. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CSOP FTSE CHINA A50 ETF
CSOP FTSE CHINA A50 finds support from accumulated volume at $13.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0250 between high and low, or 0.180%. For the last week the ETF has had daily average volatility of 0.108%
CSOP FTSE CHINA A50 is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AFTY) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect CSOP FTSE CHINA A50 ETF to open at $13.94, and during the day (based on 14 day Average True Range), to move between $13.88 and $14.02, which gives a possible trading interval of +/-$0.0700 (+/-0.50%) up or down from last closing price. If CSOP FTSE CHINA A50 ETF takes out the full calculated possible swing range there will be an estimated 1.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.95 (0.00%) than the resistance at $14.05 (0.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CSOP FTSE CHINA A50 ETF ETF A Buy?
CSOP FTSE CHINA A50 holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.768 Sell Candidate Downgraded
Predicted Opening Price for CSOP FTSE CHINA A50 ETF of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $13.94 ( 0.0597%) | $13.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFTY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.97 | 0.119% |
| R2 | 13.96 | 0.0510% |
| R1 | 13.95 | 0.0087% |
| Price | 13.95 | |
| S1 | 13.93 | -0.128% |
| S2 | 13.93 | -0.170% |
| S3 | 13.92 | -0.239% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.41 | 3.33% |
| R2 | 14.14 | 1.37% |
| R1 | 14.05 | 0.717% |
| Price | 13.95 | |
| S1 | 13.95 | -0.0007% |
| S2 | 13.85 | -0.717% |
| S3 | 0 | - |
AFTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.302 | 2.30% |
| 2 | Feb 18, 2022 | Dec 22, 2022 | Dec 29, 2022 | $0.330 | 2.09% |
| 3 | Mar 12, 2020 | Dec 21, 2020 | Dec 25, 2020 | $0.340 | 1.55% |
| 4 | Dec 12, 2019 | Dec 13, 2019 | Dec 27, 2019 | $0.752 | 4.39% |
| 5 | Dec 13, 2018 | Dec 14, 2018 | Dec 28, 2018 | $0.243 | 1.85% |
FAQ
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