Innovator S&p 500 Buffer Etf - October ETF Forecast

Green day on Friday for Innovator S&p 500 Buffer Etf - October
(Updated on Jun 28, 2024)

BOCT Signals & Forecast

Mostly positive signals in the chart today. The Innovator S&p 500 Buffer Etf - October 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 $41.53 and $41.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.91%. 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). Innovator S&p 500 Buffer Etf - October 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. The ETF had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Innovator S&p 500 Buffer Etf - October ETF

Innovator S&p 500 Buffer Etf - October finds support from accumulated volume at $41.53 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 $0.0800 between high and low, or 0.193%. For the last week the ETF has had daily average volatility of 0.157%.

The Innovator S&p 500 Buffer Etf - October ETF is extremely overbought on RSI14 (86). This increases the short-term risk substantially.

Our recommended stop-loss: $40.21 (-3.28%) (This ETF has low daily movements and this gives low risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 63 days ago.)

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

For the upcoming trading day on Monday, 1st we expect Innovator S&p 500 Buffer Etf - October to open at $41.58, and during the day (based on 14 day Average True Range), to move between $41.49 and $41.66, which gives a possible trading interval of +/-$0.0858 (+/-0.21%) up or down from last closing price. If Innovator S&p 500 Buffer Etf - October takes out the full calculated possible swing range there will be an estimated 0.41% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $41.53, some $0.0451 (0.11%) from the current price of $41.58, our system finds the risk reward attractive.

Is Innovator S&p 500 Buffer Etf - October ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Innovator S&p 500 Buffer Etf - October ETF to perform well in the short-term.

Current score: 4.192 Buy Candidate Unchanged

Predicted Opening Price for Innovator S&p 500 Buffer Etf - October of Monday, July 1, 2024

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