Amundi Index Solutions - Amundi S&p 500 ETF Forecast
Amundi Index Solutions - Amundi S&p 500 ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Amundi Index Solutions - Amundi S&p 500 ETF price gained 0.104% on the last trading day (Friday, 28th Jun 2024), rising from 287.95€ to 288.25€. During the last trading day the ETF fluctuated 0% from a day low at 288.25€ to a day high of 288.25€. The price has been going up and down for this period, and there has been a 1.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 more shares were traded than the day before. In total, 34 shares were bought and sold for approximately 9.80€ thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Amundi Index Solutions - Amundi S&p 500 ETF with a 90% probability to be traded between 290.24€ and 296.53€ 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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BYBU.PA Signals & Forecast
The Amundi Index Solutions - Amundi S&p 500 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 288.64€. On a fall, the ETF will find some support from the long-term average at approximately 285.91€. 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). Amundi Index Solutions - Amundi S&p 500 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, June 24, 2024, and so far it has fallen -0.740%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Amundi Index Solutions - Amundi S&p 500 ETF
Amundi Index Solutions - Amundi S&p 500 finds support from accumulated volume at 285.55€ 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€ between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.212%.
Our recommended stop-loss: 277.43€ (-3.75%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (BYBU.PA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Amundi Index Solutions - Amundi S&p 500 Buyback to open at 288.25€, and during the day (based on 14 day Average True Range), to move between 286.65€ and 289.85€, which gives a possible trading interval of +/-1.60€ (+/-0.55%) up or down from last closing price. If Amundi Index Solutions - Amundi S&p 500 Buyback takes out the full calculated possible swing range there will be an estimated 1.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 288.60€ (0.12%) than the support at 285.55€ (0.94%), 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 Amundi Index Solutions - Amundi S&p 500 Buyback ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Amundi Index Solutions - Amundi S&p 500 ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.761 Buy Candidate Upgraded
Predicted Opening Price for Amundi Index Solutions - Amundi S&p 500 Buyback of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 288.25€ ( 0%) | 288.25€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYBU.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 288.25 | - |
| R2 | 288.25 | - |
| R1 | 288.25 | - |
| Price | 288.25 | |
| S1 | 288.25 | - |
| S2 | 288.25 | - |
| S3 | 288.25 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 290.40 | 0.746% |
| R2 | 290.00 | 0.607% |
| R1 | 288.60 | 0.121% |
| Price | 288.25 | |
| S1 | 285.55 | -0.94% |
| S2 | 285.20 | -1.06% |
| S3 | 284.95 | -1.14% |
FAQ
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