AOT Growth and Innovation ETF Forecast
AOT Growth and Innovation ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The AOT Growth and Innovation ETF price gained 1.88% on the last trading day (Friday, 3rd May 2024), rising from $35.99 to $36.67. During the last trading day the ETF fluctuated 0.273% from a day low at $36.67 to a day high of $36.77. The price has risen in 6 of the last 10 days and is up by 5.3% over the past 2 weeks. Volume fell on the last day by -281 shares and in total, 174 shares were bought and sold for approximately $6.38 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AOT Growth and Innovation ETF with a 90% probability to be traded between $34.56 and $38.69 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AOTG Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.30%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The AOT Growth and Innovation 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 $37.30. On a fall, the ETF will find some support from the short-term average at $36.34. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AOT Growth and Innovation ETF
AOT Growth and Innovation finds support from accumulated volume at $36.55 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 $0.100 between high and low, or 0.273%. For the last week the ETF has had daily average volatility of 1.08%.
Our recommended stop-loss: $35.06 (-4.40%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (AOTG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect AOT Growth and Innovation ETF to open at $36.70, and during the day (based on 14 day Average True Range), to move between $36.09 and $37.25, which gives a possible trading interval of +/-$0.585 (+/-1.60%) up or down from last closing price. If AOT Growth and Innovation ETF takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.55 (0.33%) than the resistance at $37.02 (0.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AOT Growth and Innovation ETF ETF A Buy?
AOT Growth and Innovation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.698 Hold/Accumulate Upgraded
Predicted Opening Price for AOT Growth and Innovation ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $36.70 ( 0.0909%) | $36.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.80 | 0.364 % | |
| R2 | 36.77 | 0.259 % | ||
| R1 | 36.74 | 0.195 % | ||
| Current price: | 36.67 | |||
| Support | S1 | 36.67 | -0.0133 % | |
| S2 | 36.64 | -0.0776 % | ||
| S3 | 36.60 | -0.182 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.57 | 5.18 % | |
| R2 | 37.13 | 1.25 % | ||
| R1 | 37.02 | 0.94 % | ||
| Current price | 36.67 | |||
| Support | S1 | 36.55 | -0.329% | |
| S2 | 36.12 | -1.50% | ||
| S3 | 36.02 | -1.77% |
FAQ
Click here for our free guide on how to buy AOT Growth and Innovation ETF ETF.
