Saba Closed-End Funds 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
Saba Closed-End Funds ETF upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Saba Closed-End Funds ETF price gained 0.89% on the last trading day (Tuesday, 2nd Jul 2024), rising from $21.28 to $21.47. During the last trading day the ETF fluctuated 1.75% from a day low at $21.20 to a day high of $21.57. The price has been going up and down for this period, and there has been a 2.58% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 39 thousand shares were bought and sold for approximately $836.21 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 weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 6.99% during the next 3 months and, with a 90% probability hold a price between $22.10 and $23.31 at the end of this 3-month period.
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CEFS Signals & Forecast
The Saba Closed-End Funds 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 $21.17 and $20.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.38%. 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. 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 also not.
Support, Risk & Stop-loss for Saba Closed-End Funds ETF
Saba Closed-End Funds finds support from accumulated volume at $20.86 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 therefore the general risk is considered very 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 $0.370 between high and low, or 1.75%. For the last week the ETF has had daily average volatility of 1.56%
Our recommended stop-loss: $20.54 (-4.35%) (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 (CEFS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Saba Closed-End Funds ETF to open at $21.41, and during the day (based on 14 day Average True Range), to move between $21.20 and $21.74, which gives a possible trading interval of +/-$0.274 (+/-1.28%) up or down from last closing price. If Saba Closed-End Funds ETF takes out the full calculated possible swing range there will be an estimated 2.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.86, some $0.610 (2.84%) from the current price of $21.47, our system finds the risk reward attractive.
Is Saba Closed-End Funds ETF ETF A Buy?
Saba Closed-End Funds holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.611 Strong Buy Candidate Upgraded
Predicted Opening Price for Saba Closed-End Funds ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $21.41 ( 0.264%) | $21.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEFS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.78 | 1.46% |
| R2 | 21.64 | 0.80% |
| R1 | 21.55 | 0.394% |
| Price | 21.47 | |
| S1 | 21.27 | -0.92% |
| S2 | 21.18 | -1.33% |
| S3 | 21.04 | -1.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 21.47 | |
| S1 | 20.86 | -2.84% |
| S2 | 20.58 | -4.15% |
| S3 | 20.57 | -4.19% |
CEFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | Apr 26, 2024 | $0.140 | 0.706% |
| 2 | Mar 22, 2024 | Mar 25, 2024 | Mar 27, 2024 | $0.140 | 0.687% |
| 3 | Feb 23, 2024 | Feb 26, 2024 | Feb 28, 2024 | $0.140 | 0.714% |
| 4 | Jan 23, 2024 | Jan 24, 2024 | Jan 26, 2024 | $0.140 | 0.725% |
| 5 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.206 | 1.10% |
FAQ
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