Bny Mellon Innovators Etf ETF Forecast
Evaluation of Bny Mellon Innovators Etf ETF downgraded after the last trading session.
(Updated on Jun 20, 2024)
The Bny Mellon Innovators Etf ETF price fell by -1.01% on the last day (Thursday, 20th Jun 2024) from $33.02 to $32.69. During the last trading day the ETF fluctuated 1.35% from a day low at $32.69 to a day high of $33.13. The price has been going up and down for this period, and there has been a 0.11% gain for the last 2 weeks. Volume has increased on the last day by 113 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, 116 shares were bought and sold for approximately $3.79 thousand.
The ETF lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $33.05 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.63% during the next 3 months and, with a 90% probability hold a price between $31.71 and $34.91 at the end of this 3-month period.
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BKIV Signals & Forecast
The Bny Mellon Innovators Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $32.78. On a fall, the ETF will find some support from the long-term average at approximately $31.79. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.01%. Further fall is indicated until a new bottom pivot has been found. Bny Mellon Innovators 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 Bny Mellon Innovators Etf ETF
Bny Mellon Innovators Etf finds support from accumulated volume at $31.86 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 $0.440 between high and low, or 1.35%. For the last week the ETF has had daily average volatility of 0.423%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BKIV) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Bny Mellon Innovators Etf to open at $32.84, and during the day (based on 14 day Average True Range), to move between $32.43 and $32.95, which gives a possible trading interval of +/-$0.256 (+/-0.78%) up or down from last closing price. If Bny Mellon Innovators Etf takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.77 (0.24%) than the support at $31.86 (2.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bny Mellon Innovators Etf ETF A Buy?
Bny Mellon Innovators Etf holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. 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 Sell candidate.
Current score: -1.307 Sell Candidate Downgraded
Predicted Opening Price for Bny Mellon Innovators Etf of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $32.84 ( 0.449%) | $32.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKIV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.28 | 1.79% |
| R2 | 33.11 | 1.28% |
| R1 | 33.00 | 0.96% |
| Price | 32.69 | |
| S1 | 32.67 | -0.0655% |
| S2 | 32.56 | -0.383% |
| S3 | 32.40 | -0.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.83 | 0.428% |
| R2 | 32.78 | 0.275% |
| R1 | 32.77 | 0.245% |
| Price | 32.69 | |
| S1 | 31.86 | -2.54% |
| S2 | 31.85 | -2.57% |
| S3 | 31.56 | -3.46% |
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