Capital Group Core Balanced Etf ETF Forecast

Capital Group Core Balanced Etf ETF upgraded to Buy Candidate.
(Updated on Jun 27, 2024)

CGBL Signals & Forecast

The Capital Group Core Balanced 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 $29.91 and $29.40. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, June 18, 2024, and so far it has fallen -0.366%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Capital Group Core Balanced Etf ETF

Capital Group Core Balanced Etf finds support from accumulated volume at $29.42 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 $0.140 between high and low, or 0.468%. For the last week the ETF has had daily average volatility of 0.374%.

Our recommended stop-loss: $28.84 (-3.60%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (CGBL) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Capital Group Core Balanced Etf to open at $29.91, and during the day (based on 14 day Average True Range), to move between $29.73 and $30.11, which gives a possible trading interval of +/-$0.193 (+/-0.64%) up or down from last closing price. If Capital Group Core Balanced Etf takes out the full calculated possible swing range there will be an estimated 1.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $29.99 (0.23%) than the support at $29.42 (1.67%), 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 Capital Group Core Balanced Etf ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Capital Group Core Balanced Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.639 Buy Candidate Upgraded

Predicted Opening Price for Capital Group Core Balanced Etf of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.