BlackRock Future Tech ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
BlackRock Future Tech ETF downgraded to Sell Candidate
(Updated on May 03, 2024)
The BlackRock Future Tech ETF price gained 1.49% on the last trading day (Friday, 3rd May 2024), rising from $24.43 to $24.79. During the last trading day the ETF fluctuated 0% from a day low at $24.79 to a day high of $24.79. The price has risen in 8 of the last 10 days and is up by 7.78% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 605 shares were bought and sold for approximately $15.00 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 lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.09% during the next 3 months and, with a 90% probability hold a price between $22.16 and $25.19 at the end of this 3-month period.
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BTEK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.78%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $24.86. On a fall, the ETF will find some support from the short-term average at $24.38. 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. 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.
Support, Risk & Stop-loss for BlackRock Future Tech ETF
BlackRock Future Tech finds support from accumulated volume at $24.38 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.735%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTEK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BlackRock Future Tech ETF to open at $24.79, and during the day (based on 14 day Average True Range), to move between $24.36 and $25.21, which gives a possible trading interval of +/-$0.424 (+/-1.71%) 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 3.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.09 (1.21%) than the support at $24.38 (1.65%), 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 BlackRock Future Tech ETF ETF A Buy?
BlackRock Future Tech 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 Hold/Accumulate to a Sell candidate.
Current score: -1.162 Sell Candidate Downgraded
Predicted Opening Price for BlackRock Future Tech ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $24.79 ( 0%) | $24.79 |
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 | 24.79 | . | |
| R2 | 24.79 | . | ||
| R1 | 24.79 | . | ||
| Current price: | 24.79 | |||
| Support | S1 | 24.79 | . | |
| S2 | 24.79 | . | ||
| S3 | 24.79 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.31 | 6.14 % | |
| R2 | 25.36 | 2.30 % | ||
| R1 | 25.09 | 1.21 % | ||
| Current price | 24.79 | |||
| Support | S1 | 24.38 | -1.65% | |
| S2 | 24.24 | -2.21% | ||
| S3 | 23.94 | -3.42% |
FAQ
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