BlackRock Future Tech ETF Forecast
BlackRock Future Tech ETF price up 0.176% on Wednesday
(Updated on Apr 24, 2024)
The BlackRock Future Tech ETF price gained 0.176% on the last trading day (Wednesday, 24th Apr 2024), rising from $23.68 to $23.73. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.04% from a day low at $23.73 to a day high of $24.21. The price has fallen in 6 of the last 10 days and is down by -5.36% for this period. Volume fell on the last day by -227 shares and in total, 810 shares were bought and sold for approximately $19.22 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.02 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BlackRock Future Tech ETF with a 90% probability to be traded between $23.39 and $27.18 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BTEK Signals & Forecast
There are mixed signals in the ETF today. The BlackRock Future Tech ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $25.17. On a fall, the ETF will find some support from the short-term average at $23.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.16%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for BlackRock Future Tech ETF
BlackRock Future Tech finds support from accumulated volume at $23.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.483 between high and low, or 2.04%. For the last week the ETF has had daily average volatility of 1.61%.
Our recommended stop-loss: $22.60 (-4.75%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BTEK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BlackRock Future Tech ETF to open at $23.89, and during the day (based on 14 day Average True Range), to move between $23.30 and $24.15, which gives a possible trading interval of +/-$0.423 (+/-1.78%) up or down from last closing price. If BlackRock Future Tech ETF takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.71 (0.07%) than the resistance at $24.38 (2.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BlackRock Future Tech ETF ETF A Buy?
BlackRock Future Tech 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.
Current score: 0.149 Hold/Accumulate Unchanged
Predicted Opening Price for BlackRock Future Tech ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $23.89 ( 0.679%) | $23.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTEK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.37 | 2.72 % | |
| R2 | 24.19 | 1.94 % | ||
| R1 | 24.07 | 1.46 % | ||
| Current price: | 23.73 | |||
| Support | S1 | 23.70 | -0.0992 % | |
| S2 | 23.59 | -0.580 % | ||
| S3 | 23.40 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.31 | 10.89 % | |
| R2 | 25.36 | 6.88 % | ||
| R1 | 24.38 | 2.75 % | ||
| Current price | 23.73 | |||
| Support | S1 | 23.71 | -0.0716% | |
| S2 | 23.44 | -1.21% | ||
| S3 | 23.00 | -3.06% |
FAQ
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