JPMorgan BetaBuilders Canada ETF Forecast

Red day on Wednesday for JPMorgan BetaBuilders Canada ETF after losing 0.264%
(Updated on May 08, 2024)

BBCA Signals & Forecast

The JPMorgan BetaBuilders Canada 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 $65.48 and $65.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Friday, May 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, June 26, 2023.

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 JPMorgan BetaBuilders Canada ETF

JPMorgan BetaBuilders Canada finds support from accumulated volume at $64.81 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 $0.790 between high and low, or 1.21%. For the last week the ETF has had daily average volatility of 1.05%.

Our recommended stop-loss: $63.19 (-4.39%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (BBCA) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect JPMorgan BetaBuilders Canada ETF to open at $65.83, and during the day (based on 14 day Average True Range), to move between $65.25 and $66.93, which gives a possible trading interval of +/-$0.84 (+/-1.27%) up or down from last closing price. If JPMorgan BetaBuilders Canada ETF takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $66.14 (0.08%) than the support at $64.81 (1.94%), 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 JPMorgan BetaBuilders Canada ETF ETF A Buy?

JPMorgan BetaBuilders Canada 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.

Current score: 0.815 Hold/Accumulate Unchanged

Predicted Opening Price for JPMorgan BetaBuilders Canada ETF of Thursday, May 9, 2024

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