Breakwave Dry Bulk Shipping ETF Forecast
Breakwave Dry Bulk Shipping ETF price up 0.786% on Monday
(Updated on May 20, 2024)
The Breakwave Dry Bulk Shipping ETF price gained 0.786% on the last trading day (Monday, 20th May 2024), rising from $12.73 to $12.83. During the last trading day the ETF fluctuated 1.66% from a day low at $12.64 to a day high of $12.85. The price has fallen in 6 of the last 10 days and is down by -5.45% for this period. Volume fell on the last day by -437 thousand shares and in total, 89 thousand shares were bought and sold for approximately $1.14 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -15.64% during the next 3 months and, with a 90% probability hold a price between $9.44 and $12.36 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BDRY Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 2.56%. 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. The Breakwave Dry Bulk Shipping 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 $12.98 and $13.21. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Breakwave Dry Bulk Shipping ETF
Breakwave Dry Bulk Shipping finds support from accumulated volume at $12.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.210 between high and low, or 1.66%. For the last week the ETF has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BDRY) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Breakwave Dry Bulk Shipping ETF to open at $12.77, and during the day (based on 14 day Average True Range), to move between $12.35 and $13.31, which gives a possible trading interval of +/-$0.481 (+/-3.75%) up or down from last closing price. If Breakwave Dry Bulk Shipping ETF takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.73 (0.78%) than the resistance at $13.38 (4.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Breakwave Dry Bulk Shipping ETF ETF A Buy?
Breakwave Dry Bulk Shipping holds several negative signals and is within a very 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: -2.302 Sell Candidate Unchanged
Predicted Opening Price for Breakwave Dry Bulk Shipping ETF of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $12.77 ( 0.441%) | $12.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BDRY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.98 | 1.19 % | |
| R2 | 12.90 | 0.570 % | ||
| R1 | 12.85 | 0.184 % | ||
| Current price: | 12.83 | |||
| Support | S1 | 12.69 | -1.07 % | |
| S2 | 12.64 | -1.45 % | ||
| S3 | 12.56 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.49 | 20.73 % | |
| R2 | 14.68 | 14.42 % | ||
| R1 | 13.38 | 4.29 % | ||
| Current price | 12.83 | |||
| Support | S1 | 12.73 | -0.779% | |
| S2 | 12.71 | -0.94% | ||
| S3 | 12.62 | -1.64% |
FAQ
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