L&ge Fund Msci China A Ucits Etf ETF Forecast
L&ge Fund Msci China A Ucits Etf ETF downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The L&ge Fund Msci China A Ucits Etf ETF price gained 0.164% on the last trading day (Monday, 24th Jun 2024), rising from £1,065.75 to £1,067.50. During the last trading day the ETF fluctuated 0.0534% from a day low at £1,066.93 to a day high of £1,067.50. The price has risen in 6 of the last 10 days but is still down by -2.2% for this period. Volume fell on the last day by -48 shares and in total, 3 shares were bought and sold for approximately £3.20 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 horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £1,065.69 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect L&ge Fund Msci China A Ucits Etf ETF with a 90% probability to be traded between £1,062.37 and £1,149.75 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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CASE.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.164%. 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 L&ge Fund Msci China A Ucits Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £1,077.97 and £1,110.37. A break-up above any of these levels will issue buy signals. 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 L&ge Fund Msci China A Ucits Etf ETF
L&ge Fund Msci China A Ucits Etf finds support from accumulated volume at £1,065.75 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved £0.570 between high and low, or 0.0534%. For the last week the ETF has had daily average volatility of 0.100%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CASE.L) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect L&ge Fund Msci China A Ucits Etf to open at £1,067.31, and during the day (based on 14 day Average True Range), to move between £1,057.49 and £1,077.51, which gives a possible trading interval of +/-£10.01 (+/-0.94%) up or down from last closing price. If L&ge Fund Msci China A Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,065.75 (0.16%) than the resistance at £1,109.00 (3.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is L&ge Fund Msci China A Ucits Etf ETF A Buy?
L&ge Fund Msci China A Ucits Etf holds several negative signals and is within a falling trend, so we believe 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: -1.301 Sell Candidate Downgraded
Predicted Opening Price for L&ge Fund Msci China A Ucits Etf of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| £1,067.31 ( 0.0178%) | £1,067.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CASE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,067.88 | 0.0356% |
| R2 | 1,067.66 | 0.0152% |
| R1 | 1,067.53 | 0.0026% |
| Price | 1,067.50 | |
| S1 | 1,067.09 | -0.0382% |
| S2 | 1,066.96 | -0.0508% |
| S3 | 1,066.74 | -0.0712% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,148.75 | 7.61% |
| R2 | 1,142.25 | 7.00% |
| R1 | 1,109.00 | 3.89% |
| Price | 1,067.50 | |
| S1 | 1,065.75 | -0.164% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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