BioShares Biotechnology Products Fund ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Thursday for BioShares Biotechnology Products Fund ETF after losing 2.76%
(Updated on Apr 18, 2024)
The BioShares Biotechnology Products Fund ETF price fell by -2.76% on the last day (Thursday, 18th Apr 2024) from $52.03 to $50.60. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 1.52% from a day low at $50.51 to a day high of $51.28. The price has fallen in 7 of the last 10 days and is down by -6.88% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $168.55 thousand.
Given the current short-term trend, the ETF is expected to fall -8.83% during the next 3 months and, with a 90% probability hold a price between $46.13 and $54.60 at the end of this 3-month period.
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BBP Signals & Forecast
There are few to no technical positive signals at the moment. The BioShares Biotechnology Products Fund ETF 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 $52.89 and $55.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -20.00%. 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). BioShares Biotechnology Products Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BioShares Biotechnology Products Fund ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.770 between high and low, or 1.52%. For the last week, the ETF has had daily average volatility of 0.373%.
BioShares Biotechnology Products Fund is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBP) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect BioShares Biotechnology Products Fund to open at $50.80, and during the day (based on 14 day Average True Range), to move between $49.80 and $51.40, which gives a possible trading interval of +/-$0.80 (+/-1.59%) up or down from last closing price. If BioShares Biotechnology Products Fund takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $58.63, some $8.03 (15.87%) from the current price of $50.60, our system finds the risk reward not very attractive.
Is BioShares Biotechnology Products Fund ETF 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 ETF.
Current score: -4.459 Sell Candidate Unchanged
Predicted Opening Price for BioShares Biotechnology Products Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $50.80 ( 0.389%) | $50.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.57 | 1.91 % | |
| R2 | 51.27 | 1.33 % | ||
| R1 | 51.09 | 0.97 % | ||
| Current price: | 50.60 | |||
| Support | S1 | 50.50 | -0.193 % | |
| S2 | 50.32 | -0.552 % | ||
| S3 | 50.03 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.69 | 17.96 % | |
| R2 | 58.66 | 15.93 % | ||
| R1 | 58.63 | 15.87 % | ||
| Current price | 50.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 19, 2017 | Dec 20, 2017 | Dec 27, 2017 | $0.0720 | 0.176% |
| 2 | Dec 21, 2015 | Dec 21, 2015 | Dec 29, 2015 | $0.397 | 1.27% |
FAQ
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