Amundi MSCI Emerging Markets ETF Forecast
Stronger technical forecast for Amundi MSCI Emerging Markets ETF price after Friday trading.
(Updated on Apr 26, 2024)
The Amundi MSCI Emerging Markets ETF price gained 0.98% on the last trading day (Friday, 26th Apr 2024), rising from £5.07 to £5.12. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.00% from a day low at £5.07 to a day high of £5.12. The price has risen in 6 of the last 10 days and is up by 1.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 342 thousand more shares were traded than the day before. In total, 344 thousand shares were bought and sold for approximately £1.76 million.
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 £5.19 and £5.48 at the end of this 3-month period.
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AUEM.L Signals & Forecast
The Amundi MSCI Emerging Markets ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £5.03 and £5.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.47%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Amundi MSCI Emerging Markets ETF
Amundi MSCI Emerging Markets finds support from accumulated volume at £5.05 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 £0.0509 between high and low, or 1.00%. For the last week the ETF has had daily average volatility of 0.492%.
Our recommended stop-loss: £4.86 (-5.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (AUEM.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Amundi MSCI Emerging Markets to open at £5.10, and during the day (based on 14 day Average True Range), to move between £5.07 and £5.16, which gives a possible trading interval of +/-£0.0442 (+/-0.86%) up or down from last closing price. If Amundi MSCI Emerging Markets takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £5.12 (0.00%) than the support at £5.05 (1.27%), 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 Amundi MSCI Emerging Markets ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Amundi MSCI Emerging Markets ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.704 Buy Candidate Upgraded
Predicted Opening Price for Amundi MSCI Emerging Markets of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £5.10 ( 0.318%) | £5.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUEM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.15 | 0.676 % | |
| R2 | 5.13 | 0.296 % | ||
| R1 | 5.12 | 0.0614 % | ||
| Current price: | 5.12 | |||
| Support | S1 | 5.08 | -0.698 % | |
| S2 | 5.07 | -0.93 % | ||
| S3 | 5.05 | -1.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.19 | 1.48 % | |
| R2 | 5.13 | 0.254 % | ||
| R1 | 5.12 | 0.0049 % | ||
| Current price | 5.12 | |||
| Support | S1 | 5.05 | -1.27% | |
| S2 | 4.95 | -3.24% | ||
| S3 | 4.81 | -5.94% |
FAQ
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