Conductor Global Equity Value Etf ETF Forecast
Conductor Global Equity Value Etf ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The Conductor Global Equity Value Etf ETF price fell by -1.59% on the last day (Thursday, 27th Jun 2024) from $12.94 to $12.73. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.236% from a day low at $12.73 to a day high of $12.76. The price has fallen in 7 of the last 10 days and is down by -3.71% for this period. Volume has increased on the last day by 69 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 72 thousand shares were bought and sold for approximately $918.34 thousand.
The ETF has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $12.79 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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CGV Signals & Forecast
There are few to no technical positive signals at the moment. The Conductor Global Equity Value 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 $12.96 and $13.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -5.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Conductor Global Equity Value Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Conductor Global Equity Value Etf ETF
Conductor Global Equity Value Etf finds support from accumulated volume at $12.66 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 $0.0300 between high and low, or 0.236%. For the last week the ETF has had daily average volatility of 0.464%.
Conductor Global Equity Value Etf is oversold on RSI14 (23). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CGV) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Conductor Global Equity Value Etf to open at $12.74, and during the day (based on 14 day Average True Range), to move between $12.61 and $12.85, which gives a possible trading interval of +/-$0.123 (+/-0.96%) up or down from last closing price. If Conductor Global Equity Value Etf takes out the full calculated possible swing range there will be an estimated 1.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.66 (0.57%) than the resistance at $13.20 (3.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Conductor Global Equity Value Etf ETF A Buy?
Conductor Global Equity Value 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: -3.692 Sell Candidate Downgraded
Predicted Opening Price for Conductor Global Equity Value Etf of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $12.74 ( 0.0786%) | $12.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.77 | 0.314% |
| R2 | 12.76 | 0.224% |
| R1 | 12.75 | 0.169% |
| Price | 12.73 | |
| S1 | 12.73 | -0.0115% |
| S2 | 12.72 | -0.0671% |
| S3 | 12.71 | -0.157% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.28 | 4.28% |
| R2 | 13.21 | 3.77% |
| R1 | 13.20 | 3.69% |
| Price | 12.73 | |
| S1 | 12.66 | -0.570% |
| S2 | 12.65 | -0.603% |
| S3 | 12.62 | -0.86% |
FAQ
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