JP Morgan Alerian MLP Index ETN ETF Forecast
JP Morgan Alerian MLP Index ETN ETF price up 0.683% on Thursday
(Updated on May 02, 2024)
The JP Morgan Alerian MLP Index ETN ETF price gained 0.683% on the last trading day (Thursday, 2nd May 2024), rising from $27.83 to $28.02. During the last trading day the ETF fluctuated 1.19% from a day low at $27.81 to a day high of $28.14. The price has risen in 7 of the last 10 days and is up by 1.48% over the past 2 weeks. Volume fell on the last day by -181 thousand shares and in total, 258 thousand shares were bought and sold for approximately $7.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 5.83% during the next 3 months and, with a 90% probability hold a price between $28.99 and $31.23 at the end of this 3-month period.
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AMJ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $28.23 and $28.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.03%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for JP Morgan Alerian MLP Index ETN ETF
JP Morgan Alerian MLP Index ETN finds support from accumulated volume at $27.83 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 $0.330 between high and low, or 1.19%. For the last week the ETF has had daily average volatility of 1.10%.
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 3rd
For the upcoming trading day on Friday, 3rd we expect JP Morgan Alerian MLP Index ETN to open at $27.99, and during the day (based on 14 day Average True Range), to move between $27.66 and $28.38, which gives a possible trading interval of +/-$0.364 (+/-1.30%) 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 2.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.09 (0.25%) than the support at $27.83 (0.68%), 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: -3.899 Sell Candidate Unchanged
Predicted Opening Price for JP Morgan Alerian MLP Index ETN of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$27.99 ( 0.107%) | $28.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMJ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.32 | 1.07 % | |
R2 | 28.19 | 0.621 % | ||
R1 | 28.12 | 0.343 % | ||
Current price: | 28.02 | |||
Support | S1 | 27.86 | -0.557 % | |
S2 | 27.79 | -0.83 % | ||
S3 | 27.66 | -1.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.49 | 1.68 % | |
R2 | 28.38 | 1.28 % | ||
R1 | 28.09 | 0.250 % | ||
Current price | 28.02 | |||
Support | S1 | 27.83 | -0.678% | |
S2 | 27.66 | -1.28% | ||
S3 | 27.26 | -2.71% |
AMJ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 08, 2024 | $0.423 | 1.52% |
2 | Nov 28, 2023 | Nov 28, 2023 | Nov 28, 2023 | $0.435 | 1.72% |
3 | Aug 25, 2023 | Aug 25, 2023 | Sep 06, 2023 | $0.410 | 1.72% |
4 | May 25, 2023 | May 25, 2023 | Jun 06, 2023 | $0.417 | 1.84% |
5 | May 27, 2023 | Feb 28, 2023 | Mar 09, 2023 | $0.397 | 1.76% |
FAQ
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