Trust For Professional Managers ETF Forecast
Trust For Professional Managers ETF price ended at $28.46 on Friday, after gaining 0.0351%.
(Updated on Jun 28, 2024)
The Trust For Professional Managers ETF price gained 0.0351% on the last trading day (Friday, 28th Jun 2024), rising from $28.45 to $28.46. During the last trading day the ETF fluctuated 0.773% from a day low at $28.44 to a day high of $28.66. The price has risen in 6 of the last 10 days but is still down by -0.66% for this period. Volume fell on the last day by -2 thousand shares and in total, 37 thousand shares were bought and sold for approximately $1.05 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 4.44% during the next 3 months and, with a 90% probability hold a price between $29.18 and $31.20 at the end of this 3-month period.
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APIE Signals & Forecast
There are few to no technical positive signals at the moment. The Trust For Professional Managers 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 $28.58 and $28.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -2.93%. 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.
Support, Risk & Stop-loss for Trust For Professional Managers ETF
Trust For Professional Managers finds support from accumulated volume at $28.28 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 $0.220 between high and low, or 0.773%. For the last week the ETF has had daily average volatility of 1.05%
Our recommended stop-loss: $26.97 (-5.24%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (APIE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Trust For Professional Managers to open at $28.52, and during the day (based on 14 day Average True Range), to move between $28.08 and $28.84, which gives a possible trading interval of +/-$0.378 (+/-1.33%) up or down from last closing price. If Trust For Professional Managers takes out the full calculated possible swing range there will be an estimated 2.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.61 (0.53%) than the support at $28.28 (0.63%), 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 Trust For Professional Managers ETF A Buy?
Trust For Professional Managers holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.609 Hold/Accumulate Unchanged
Predicted Opening Price for Trust For Professional Managers of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $28.52 ( 0.211%) | $28.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APIE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.74 | 0.98% |
| R2 | 28.66 | 0.688% |
| R1 | 28.60 | 0.506% |
| Price | 28.46 | |
| S1 | 28.44 | -0.0842% |
| S2 | 28.38 | -0.267% |
| S3 | 28.30 | -0.562% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.11 | 2.28% |
| R2 | 28.65 | 0.668% |
| R1 | 28.61 | 0.527% |
| Price | 28.46 | |
| S1 | 28.28 | -0.632% |
| S2 | 27.60 | -3.02% |
| S3 | 27.41 | -3.69% |
FAQ
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