Ab Conservative Buffer Etf ETF Forecast
Evaluation of Ab Conservative Buffer Etf ETF downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Ab Conservative Buffer Etf ETF price gained 0.160% on the last trading day (Tuesday, 2nd Jul 2024), rising from $37.55 to $37.61. During the last trading day the ETF fluctuated 0.343% from a day low at $37.51 to a day high of $37.64. The price has risen in 6 of the last 10 days and is up by 0.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $1.54 million.
The ETF lies in the upper part of a narrow 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 $37.71 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 4.35% during the next 3 months and, with a 90% probability hold a price between $38.75 and $39.35 at the end of this 3-month period.
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BUFC Signals & Forecast
The Ab Conservative Buffer Etf 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 $37.53 and $37.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 4.27%. 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. The ETF had a Golden Star Signal on Friday, May 03, 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.
Golden Star
The ETF had a Golden Star Signal on Friday, May 03, 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.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 with a target of $36.34. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Ab Conservative Buffer Etf ETF
Ab Conservative Buffer Etf finds support from accumulated volume at $37.07 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 $0.129 between high and low, or 0.343%. For the last week the ETF has had daily average volatility of 0.224%.
The Ab Conservative Buffer Etf ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.
Our recommended stop-loss: $36.31 (-3.46%) (This ETF has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (BUFC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ab Conservative Buffer Etf to open at $37.59, and during the day (based on 14 day Average True Range), to move between $37.48 and $37.74, which gives a possible trading interval of +/-$0.130 (+/-0.34%) up or down from last closing price. If Ab Conservative Buffer Etf takes out the full calculated possible swing range there will be an estimated 0.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $37.07, some $0.540 (1.44%) from the current price of $37.61, our system finds the risk reward attractive.
Is Ab Conservative Buffer Etf ETF A Buy?
Ab Conservative Buffer Etf 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 Ab Conservative Buffer Etf of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $37.59 ( 0.0610%) | $37.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BUFC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.72 | 0.281% |
| R2 | 37.67 | 0.151% |
| R1 | 37.64 | 0.0698% |
| Price | 37.61 | |
| S1 | 37.54 | -0.192% |
| S2 | 37.51 | -0.273% |
| S3 | 37.46 | -0.403% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 37.61 | |
| S1 | 37.07 | -1.44% |
| S2 | 36.47 | -3.03% |
| S3 | 36.40 | -3.20% |
FAQ
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