JP Morgan Alerian MLP Index ETN ETF Forecast

JP Morgan Alerian MLP Index ETN ETF price up 1.10% on Thursday
(Updated on Apr 18, 2024)

AMJ Signals & Forecast

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 JP Morgan Alerian MLP Index ETN 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 $28.01. On a fall, the ETF will find some support from the short-term average at $27.58. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -4.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Thursday, April 27, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for JP Morgan Alerian MLP Index ETN ETF

JP Morgan Alerian MLP Index ETN finds support from accumulated volume at $27.56 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.440 between high and low, or 1.61%. For the last week the ETF has had daily average volatility of 1.86%.

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

Trading Expectations (AMJ) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect JP Morgan Alerian MLP Index ETN to open at $27.57, and during the day (based on 14 day Average True Range), to move between $27.23 and $27.99, which gives a possible trading interval of +/-$0.379 (+/-1.37%) up or down from last closing price. If JP Morgan Alerian MLP Index ETN takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $27.66 (0.18%) than the support at $27.56 (0.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is JP Morgan Alerian MLP Index ETN ETF A Buy?

The JP Morgan Alerian MLP Index ETN ETF holds several negative signals and despite the positive trend, we believe JP Morgan Alerian MLP Index ETN will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -3.642 Sell Candidate Unchanged

Predicted Opening Price for JP Morgan Alerian MLP Index ETN of Friday, April 19, 2024

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