BioShares Biotechnology Clinical Trials ETF Forecast

BioShares Biotechnology Clinical Trials ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)

BBC Signals & Forecast

There are mixed signals in the ETF today. The BioShares Biotechnology Clinical Trials ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $28.10. On a fall, the ETF will find some support from the short-term average at $25.57. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.89%. Further rise is indicated until a new top pivot has been found. 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 $25.14 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 1.25%.

Our recommended stop-loss: $24.54 (-4.40%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (BBC) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect BioShares Biotechnology Clinical Trials Fund to open at $25.67, and during the day (based on 14 day Average True Range), to move between $25.05 and $26.29, which gives a possible trading interval of +/-$0.623 (+/-2.43%) 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 4.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $25.14 (2.06%) than the resistance at $26.58 (3.54%), 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: -0.718 Hold/Accumulate Upgraded

Predicted Opening Price for BioShares Biotechnology Clinical Trials Fund of Wednesday, April 24, 2024

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