Legal & General Ucits Etf Plc - L&g ETF Forecast
Weaker technical forecast for Legal & General Ucits Etf Plc - L&g as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Legal & General Ucits Etf Plc - L&g ETF price fell by -0.701% on the last day (Tuesday, 25th Jun 2024) from £1,341.20 to £1,331.80. During the last trading day the ETF fluctuated 1.07% from a day low at £1,331.80 to a day high of £1,346.00. The price has fallen in 7 of the last 10 days and is down by -4.43% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -5 thousand shares and in total, 10 thousand shares were bought and sold for approximately £13.53 million.
Given the current horizontal trend, you can expect Legal & General Ucits Etf Plc - L&g ETF with a 90% probability to be traded between £1,312.72 and £1,433.62 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.
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BATG.L Signals & Forecast
There are few to no technical positive signals at the moment. The Legal & General Ucits Etf Plc - L&g 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 £1,345.41 and £1,407.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -9.10%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Legal & General Ucits Etf Plc - L&g ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved £14.20 (1.07%) between high and low. For the last week, the ETF has had daily average volatility of 0.96%.
Legal & General Ucits Etf Plc - L&g is oversold on RSI14 (23). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BATG.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf to open at £1,336.53, and during the day (based on 14 day Average True Range), to move between £1,312.57 and £1,351.03, which gives a possible trading interval of +/-£19.23 (+/-1.44%) up or down from last closing price. If Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.89% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £1,355.20, some £23.40 (1.76%) from the current price of £1,331.80, our system finds the risk reward not very attractive.
Is Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf ETF A Buy?
Legal & General Ucits Etf Plc - L&g holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.917 Sell Candidate Downgraded
Predicted Opening Price for Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £1,336.53 ( 0.355%) | £1,331.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BATG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,350.73 | 1.42% |
| R2 | 1,345.31 | 1.01% |
| R1 | 1,341.96 | 0.763% |
| Price | 1,331.80 | |
| S1 | 1,331.11 | -0.0519% |
| S2 | 1,327.76 | -0.304% |
| S3 | 1,322.33 | -0.711% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,437.20 | 7.91% |
| R2 | 1,412.10 | 6.03% |
| R1 | 1,355.20 | 1.76% |
| Price | 1,331.80 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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