Evolve Us Banks Enhanced Yield Fund ETF Forecast
Evolve Us Banks Enhanced Yield Fund ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Evolve Us Banks Enhanced Yield Fund ETF price gained 1.19% on the last trading day (Friday, 28th Jun 2024), rising from $11.77 to $11.91. During the last trading day the ETF fluctuated 0.93% from a day low at $11.82 to a day high of $11.93. The price has risen in 7 of the last 10 days and is up by 3.48% 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, 4 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $103.69 thousand.
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 -2.21% during the next 3 months and, with a 90% probability hold a price between $11.03 and $12.17 at the end of this 3-month period.
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CALL.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 3.75%. 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). Evolve Us Banks Enhanced Yield Fund 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evolve Us Banks Enhanced Yield Fund 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 $11.98. On a fall, the ETF will find some support from the short-term average at $11.81. 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.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 and based on theory for this formation the price should go up by 11.66% to $13.30 within 39 trading days since signal was issued (Wednesday, August 07, 2024).
Support, Risk & Stop-loss for Evolve Us Banks Enhanced Yield Fund ETF
Evolve Us Banks Enhanced Yield Fund finds support from accumulated volume at $11.89 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 $0.110 between high and low, or 0.93%. For the last week the ETF has had daily average volatility of 1.03%.
Our recommended stop-loss: $11.30 (-5.15%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (CALL.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Evolve Us Banks Enhanced Yield Fund Hedged Units to open at $11.89, and during the day (based on 14 day Average True Range), to move between $11.75 and $12.07, which gives a possible trading interval of +/-$0.159 (+/-1.33%) up or down from last closing price. If Evolve Us Banks Enhanced Yield Fund Hedged Units takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.89 (0.17%) than the resistance at $11.94 (0.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Evolve Us Banks Enhanced Yield Fund Hedged Units ETF A Buy?
Evolve Us Banks Enhanced Yield Fund 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.855 Hold/Accumulate Upgraded
Predicted Opening Price for Evolve Us Banks Enhanced Yield Fund Hedged Units of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $11.89 ( 0.196%) | $11.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CALL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.00 | 0.728% |
| R2 | 11.95 | 0.375% |
| R1 | 11.93 | 0.157% |
| Price | 11.91 | |
| S1 | 11.84 | -0.549% |
| S2 | 11.82 | -0.767% |
| S3 | 11.78 | -1.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.31 | 3.36% |
| R2 | 12.11 | 1.68% |
| R1 | 11.94 | 0.252% |
| Price | 11.91 | |
| S1 | 11.89 | -0.168% |
| S2 | 11.77 | -1.18% |
| S3 | 11.51 | -3.36% |
FAQ
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