THE RESTAURANT ETF Stock Forecast
THE RESTAURANT ETF stock price fell more than -11.04% Tuesday closing at $8.22
(Updated on Jun 25, 2024)
The THE RESTAURANT ETF stock price fell by -11.04% on the last day (Tuesday, 25th Jun 2024) from $9.24 to $8.22. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.49% from a day low at $8.22 to a day high of $9.00. The price has fallen in 5 of the last 10 days and is down by -11.61% for this period. Volume has increased on the last day by 234 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, 1 thousand shares were bought and sold for approximately $11.07 thousand.
The stock 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 stock is expected to fall -15.00% during the next 3 months and, with a 90% probability hold a price between $6.37 and $9.20 at the end of this 3-month period.
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BITE Signals & Forecast
There are few to no technical positive signals at the moment. The THE RESTAURANT ETF stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $9.13 and $9.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -26.15%. 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). THE RESTAURANT ETF 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for THE RESTAURANT ETF stock
THE RESTAURANT ETF finds support from accumulated volume at $8.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.780 between high and low, or 9.49%. For the last week, the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BITE) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect THE RESTAURANT ETF to open at $8.48, and during the day (based on 14 day Average True Range), to move between $7.15 and $9.29, which gives a possible trading interval of +/-$1.07 (+/-12.98%) up or down from last closing price. If THE RESTAURANT ETF takes out the full calculated possible swing range there will be an estimated 25.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.20 (0.24%) than the resistance at $8.96 (9.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is THE RESTAURANT ETF stock A Buy?
THE RESTAURANT ETF 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 stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.867 Strong Sell Candidate Downgraded
Predicted Opening Price for THE RESTAURANT ETF of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$8.48 ( 3.16%) | $8.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BITE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.26 | 12.65% |
R2 | 8.96 | 9.03% |
R1 | 8.78 | 6.79% |
Price | 8.22 | |
S1 | 8.18 | -0.462% |
S2 | 8.00 | -2.70% |
S3 | 7.70 | -6.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.16 | 23.60% |
R2 | 9.70 | 18.00% |
R1 | 8.96 | 9.00% |
Price | 8.22 | |
S1 | 8.20 | -0.243% |
S2 | 0 | - |
S3 | 0 | - |
BITE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 15, 2016 | Dec 15, 2016 | Dec 20, 2016 | $0.100 | 0.350% |
2 | Sep 13, 2016 | Sep 13, 2016 | Sep 16, 2016 | $0.250 | 1.00% |
FAQ
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