Innovator U.s. Equity Buffer Etf - July ETF Forecast

Innovator U.s. Equity Buffer Etf - July ETF downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)

BJUL Signals & Forecast

The Innovator U.s. Equity Buffer Etf - July ETF 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 $41.72 and $41.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.25%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Innovator U.s. Equity Buffer Etf - July ETF

Innovator U.s. Equity Buffer Etf - July finds support from accumulated volume at $41.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0750 between high and low, or 0.180%. For the last week the ETF has had daily average volatility of 0.180%.

The Innovator U.s. Equity Buffer Etf - July ETF is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: $39.66 (-5.07%) (This ETF has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (BJUL) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Innovator U.s. Equity Buffer Etf - July to open at $41.79, and during the day (based on 14 day Average True Range), to move between $41.66 and $41.90, which gives a possible trading interval of +/-$0.115 (+/-0.28%) up or down from last closing price. If Innovator U.s. Equity Buffer Etf - July takes out the full calculated possible swing range there will be an estimated 0.55% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $41.68, some $0.100 (0.24%) from the current price of $41.78, our system finds the risk reward attractive.

Is Innovator U.s. Equity Buffer Etf - July ETF A Buy?

Innovator U.s. Equity Buffer Etf - July holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Innovator U.s. Equity Buffer Etf - July of Monday, July 1, 2024

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