InfraCap MLP ETF Forecast

Green day on Thursday for InfraCap MLP ETF after gaining 1.54%
(Updated on Apr 18, 2024)

AMZA Signals & Forecast

There are few to no technical positive signals at the moment. The InfraCap MLP 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 $40.20. On a fall, the ETF will find some support from the short-term average at $39.45. 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 -6.18%. 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). 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. The ETF had a Golden Star Signal on Tuesday, January 23, 2024 in the short-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 InfraCap MLP ETF

InfraCap MLP finds support from accumulated volume at $38.58 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 controlled movements and therefore the general risk is considered 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 $0.580 between high and low, or 1.48%. For the last week the ETF has had daily average volatility of 2.31%.

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

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

For the upcoming trading day on Friday, 19th we expect InfraCap MLP ETF to open at $39.43, and during the day (based on 14 day Average True Range), to move between $38.81 and $40.19, which gives a possible trading interval of +/-$0.685 (+/-1.74%) up or down from last closing price. If InfraCap MLP ETF takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $39.74 (0.60%) than the support at $38.58 (2.33%), 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 InfraCap MLP ETF ETF A Buy?

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

Current score: -3.638 Sell Candidate Unchanged

Predicted Opening Price for InfraCap MLP ETF of Friday, April 19, 2024

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