EGSHARES BLUE CHIP ETF Stock Forecast

EGSHARES BLUE CHIP ETF stock price ended at $32.32 on Thursday, after gaining 0.310%.
(Updated on Jun 27, 2024)

BCHP Signals & Forecast

Mostly positive signals in the chart today. The EGSHARES BLUE CHIP ETF stock 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 $32.09 and $31.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 5.72%. 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). EGSHARES BLUE CHIP ETF has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Monday, August 28, 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 stock in question.

Support, Risk & Stop-loss for EGSHARES BLUE CHIP ETF stock

EGSHARES BLUE CHIP ETF finds support from accumulated volume at $31.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0802 between high and low, or 0.248%. For the last week the stock has had daily average volatility of 0.346%.

The EGSHARES BLUE CHIP ETF stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the EGSHARES BLUE CHIP ETF has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $30.74 (-4.89%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (BCHP) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect EGSHARES BLUE CHIP ETF to open at $32.35, and during the day (based on 14 day Average True Range), to move between $32.10 and $32.54, which gives a possible trading interval of +/-$0.221 (+/-0.68%) up or down from last closing price. If EGSHARES BLUE CHIP ETF takes out the full calculated possible swing range there will be an estimated 1.37% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $31.26, some $1.06 (3.29%) from the current price of $32.32, our system finds the risk reward attractive.

Is EGSHARES BLUE CHIP ETF stock 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 EGSHARES BLUE CHIP ETF stock to perform well in the short-term.

Current score: 4.030 Buy Candidate Unchanged

Predicted Opening Price for EGSHARES BLUE CHIP ETF of Friday, June 28, 2024

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