Smartshares Australian Dividend ETF Stock Forecast

Smartshares Australian Dividend ETF stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)

ASD.NZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.06%. 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 Smartshares Australian Dividend ETF stock 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 stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.80. On a fall, the stock will find some support from the short-term average at $1.76. 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. The stock had a Golden Star Signal on Wednesday, December 13, 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 stock in question.

Support, Risk & Stop-loss for Smartshares Australian Dividend ETF stock

Smartshares Australian Dividend ETF finds support from accumulated volume at $1.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock 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 stock During the last day, the stock moved $0.0220 between high and low, or 1.25%. For the last week the stock has had daily average volatility of 1.35%

Our recommended stop-loss: $1.69 (-5.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (ASD.NZ) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Smartshares Australian Dividend ETF to open at $1.77, and during the day (based on 14 day Average True Range), to move between $1.76 and $1.80, which gives a possible trading interval of +/-$0.0237 (+/-1.33%) up or down from last closing price. If Smartshares Australian Dividend ETF takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.80 (1.18%) than the support at $1.76 (1.35%), 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 Smartshares Australian Dividend ETF stock A Buy?

Smartshares Australian Dividend ETF 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 stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.273 Hold/Accumulate Upgraded

Predicted Opening Price for Smartshares Australian Dividend ETF of Friday, June 21, 2024

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