Legal & General Ucits Etf Plc - L&g ETF Forecast
Legal & General Ucits Etf Plc - L&g ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Legal & General Ucits Etf Plc - L&g ETF price gained 0.330% on the last trading day (Friday, 28th Jun 2024), rising from £1,333.40 to £1,337.80. During the last trading day the ETF fluctuated 0.558% from a day low at £1,334.95 to a day high of £1,342.40. The price has fallen in 5 of the last 10 days and is down by -1.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately £38.14 million.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £1,329.49 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -3.06% during the next 3 months and, with a 90% probability hold a price between £1,288.76 and £1,395.64 at the end of this 3-month period.
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BATG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 0.451%. 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. 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 £1,339.79 and £1,399.27. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Legal & General Ucits Etf Plc - L&g ETF
Legal & General Ucits Etf Plc - L&g finds support from accumulated volume at £1,337.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £7.45 (0.558%) between high and low. For the last week, the ETF has had daily average volatility of 1.02%.
Our recommended stop-loss: £1,253.21 (-6.32%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (BATG.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf to open at £1,338.38, and during the day (based on 14 day Average True Range), to move between £1,320.10 and £1,355.50, which gives a possible trading interval of +/-£17.70 (+/-1.32%) 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 2.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,337.10 (0.05%) than the resistance at £1,355.20 (1.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Legal & General Ucits Etf Plc - L&g Battery Value-chain Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1,338.38 ( 0.0435%) | £1,337.80 |
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 | 1,345.84 | 0.601% |
| R2 | 1,342.99 | 0.388% |
| R1 | 1,341.23 | 0.256% |
| Price | 1,337.80 | |
| S1 | 1,335.53 | -0.169% |
| S2 | 1,333.78 | -0.301% |
| S3 | 1,330.93 | -0.514% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,437.20 | 7.43% |
| R2 | 1,412.10 | 5.55% |
| R1 | 1,355.20 | 1.30% |
| Price | 1,337.80 | |
| S1 | 1,337.10 | -0.0523% |
| S2 | 1,333.40 | -0.329% |
| S3 | 1,331.80 | -0.448% |
FAQ
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