THE RESTAURANT ETF Stock Forecast
Volatile ride for THE RESTAURANT ETF stock price on Friday moving between $9.48 and $12.50
(Updated on Jun 28, 2024)
The THE RESTAURANT ETF stock price gained 43.35% on the last trading day (Friday, 28th Jun 2024), rising from $8.72 to $12.50. During the last trading day the stock fluctuated 31.86% from a day low at $9.48 to a day high of $12.50. The price has fallen in 5 of the last 10 days but is still up by 32.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately $222.24 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $10.82, a level that may pose a second chance to hit a runner. According to fan-theory $14.06 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BITE Signals & Forecast
The THE RESTAURANT 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 $9.52 and $9.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 52.07%. Further rise is indicated until a new top pivot has been found. THE RESTAURANT 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should go up by 5.51% to $13.19 within 21 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for THE RESTAURANT ETF stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.31 and $10.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, THE RESTAURANT ETF finds support just below today's level at $10.31. If this is broken, then the next support from accumulated volume will be at $10.16 and $9.70.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.02 between high and low, or 31.86%. For the last week, the stock has had daily average volatility of 12.40%.
Our recommended stop-loss: $12.04 (-3.72%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BITE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect THE RESTAURANT ETF to open at $11.49, and during the day (based on 14 day Average True Range), to move between $11.27 and $13.73, which gives a possible trading interval of +/-$1.23 (+/-9.84%) up or down from last closing price. If THE RESTAURANT ETF takes out the full calculated possible swing range there will be an estimated 19.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.31, some $2.19 (17.52%) from the current price of $12.50, our system finds the risk reward attractive.
Is THE RESTAURANT ETF stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.875 Buy Candidate Upgraded
Predicted Opening Price for THE RESTAURANT ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11.49 ( 8.05%) | $12.50 |
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 | 14.51 | 16.11% |
| R2 | 13.36 | 6.88% |
| R1 | 12.65 | 1.18% |
| Price | 12.50 | |
| S1 | 10.34 | -17.28% |
| S2 | 9.63 | -22.98% |
| S3 | 8.47 | -32.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.50 | |
| S1 | 10.31 | -17.52% |
| S2 | 10.16 | -18.72% |
| S3 | 9.70 | -22.40% |
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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