BioShares Biotechnology Products Fund fund downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The BioShares Biotechnology Products Fund fund price fell by -0.73% on the last day (Friday, 26th Nov 2021) from $49.32 to $48.96. During the day the fund fluctuated 2.12% from a day low at $48.96 to a day high of $50.00. The price has fallen in 7 of the last 10 days and is down by -3.58% for this period. Volume fell on the last day along with the fund, which is actually a good sign as volume should follow the fund. On the last day, the trading volume fell by -10 thousand shares and in total, 2 thousand shares were bought and sold for approximately $74.76 thousand.
The fund lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $48.75 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the fund is expected to fall -3.74% during the next 3 months and, with a 90% probability hold a price between $46.92 and $52.27 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, November 22, 2021, and so far it has risen 0.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioShares Biotechnology Products Fund fund 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 $49.30 and $50.87. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this fund may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
BioShares Biotechnology Products Fund finds support from accumulated volume at $48.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This fund has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the fund moved $1.04 between high and low, or 2.12%. For the last week the fund has had a daily average volatility of 1.61%.
BioShares Biotechnology Products Fund is oversold on RSI14 (17). Some funds may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is BioShares Biotechnology Products Fund fund A Buy?
BioShares Biotechnology Products Fund holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this fund. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.275
Predicted Opening Price for BioShares Biotechnology Products Fund of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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