BetaShares Australian Equities Strong ETF Forecast

Red day on Friday for BetaShares Australian Equities Strong ETF after losing 0.305%
(Updated on Jun 28, 2024)

BBOZ.AX Signals & Forecast

The BetaShares Australian Equities Strong ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at A$29.35 and A$20.34. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 30, 2024, and so far it has fallen -3.48%. 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 BetaShares Australian Equities Strong ETF

BetaShares Australian Equities Strong finds support from accumulated volume at A$29.35 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 A$0.450 between high and low, or 1.55%. For the last week the ETF has had daily average volatility of 1.93%.

Our recommended stop-loss: A$28.07 (-4.52%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (BBOZ.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect BetaShares Australian Equities Strong Bear Hedge Fund to open at A$29.25, and during the day (based on 14 day Average True Range), to move between A$28.55 and A$30.25, which gives a possible trading interval of +/-A$0.85 (+/-2.89%) up or down from last closing price. If BetaShares Australian Equities Strong Bear Hedge Fund takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$29.35 (0.17%) than the resistance at A$29.49 (0.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BetaShares Australian Equities Strong Bear Hedge Fund ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BetaShares Australian Equities Strong ETF to perform well in the short-term.

Current score: 3.128 Buy Candidate Unchanged

Predicted Opening Price for BetaShares Australian Equities Strong Bear Hedge Fund of Monday, July 1, 2024

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