BioShares Biotechnology Clinical Trials ETF Forecast
BioShares Biotechnology Clinical Trials ETF upgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The BioShares Biotechnology Clinical Trials ETF price gained 0.581% on the last trading day (Thursday, 28th Mar 2024), rising from $28.96 to $29.13. It has now gained 3 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 1.04% from a day low at $28.94 to a day high of $29.24. The price has risen in 7 of the last 10 days and is up by 1.85% 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, 390 more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $102.60 thousand.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.74 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 24.08% during the next 3 months and, with a 90% probability hold a price between $35.66 and $41.40 at the end of this 3-month period.
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BBC Signals & Forecast
The BioShares Biotechnology Clinical Trials 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 $28.89 and $29.08. A breakdown below any of these levels will issue sell signals. BioShares Biotechnology Clinical Trials has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -7.08%. 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). The ETF had a Golden Star Signal on Thursday, June 01, 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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, June 01, 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 ETF in question.
Support, Risk & Stop-loss for BioShares Biotechnology Clinical Trials ETF
BioShares Biotechnology Clinical Trials finds support from accumulated volume at $28.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.300 between high and low, or 1.04%. For the last week, the ETF has had daily average volatility of 1.34%.
Our recommended stop-loss: $27.87 (-4.34%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (BBC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect BioShares Biotechnology Clinical Trials Fund to open at $29.10, and during the day (based on 14 day Average True Range), to move between $28.45 and $29.81, which gives a possible trading interval of +/-$0.681 (+/-2.34%) up or down from last closing price. If BioShares Biotechnology Clinical Trials Fund takes out the full calculated possible swing range there will be an estimated 4.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.38 (2.57%) than the resistance at $30.48 (4.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BioShares Biotechnology Clinical Trials Fund ETF A Buy?
BioShares Biotechnology Clinical Trials 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 ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.833 Hold/Accumulate Upgraded
Predicted Opening Price for BioShares Biotechnology Clinical Trials Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$29.10 ( 0.0915%) | $29.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.40 | 0.94 % | |
R2 | 29.29 | 0.545 % | ||
R1 | 29.22 | 0.302 % | ||
Current price: | 29.13 | |||
Support | S1 | 28.99 | -0.485 % | |
S2 | 28.92 | -0.728 % | ||
S3 | 28.80 | -1.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.35 | 7.62 % | |
R2 | 30.94 | 6.21 % | ||
R1 | 30.48 | 4.63 % | ||
Current price | 29.13 | |||
Support | S1 | 28.38 | -2.57% | |
S2 | 26.58 | -8.75% | ||
S3 | 24.51 | -15.86% |
BBC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0820 | 0.369% |
2 | Dec 19, 2017 | Dec 20, 2017 | Dec 27, 2017 | $0.297 | 1.04% |
3 | Dec 21, 2015 | Dec 21, 2015 | Dec 29, 2015 | $0.147 | 0.498% |
FAQ
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