Themes Cloud Computing Etf ETF Forecast
Evaluation of Themes Cloud Computing Etf ETF downgraded after the last trading session.
(Updated on Jun 17, 2024)
The Themes Cloud Computing Etf ETF price gained 0.86% on the last trading day (Monday, 17th Jun 2024), rising from $26.32 to $26.55. During the last trading day the ETF fluctuated 0.599% from a day low at $26.39 to a day high of $26.55. The price has risen in 8 of the last 10 days and is up by 5.65% over the past 2 weeks. Volume fell on the last day by -567 shares and in total, 117 shares were bought and sold for approximately $3.11 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 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 -2.52% during the next 3 months and, with a 90% probability hold a price between $23.97 and $26.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CLOD Signals & Forecast
The Themes Cloud Computing Etf ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.13 and $26.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 5.68%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
A buy signal from a double bottom formation was found on Friday, May 31, 2024 and based on theory for this formation the price should go up by 3.25% to $27.41 within 29 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Themes Cloud Computing Etf ETF
Themes Cloud Computing Etf finds support from accumulated volume at $25.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.158 between high and low, or 0.599%. For the last week the ETF has had daily average volatility of 0.687%.
Our recommended stop-loss: $25.12 (-5.37%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (CLOD) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Themes Cloud Computing Etf to open at $26.50, and during the day (based on 14 day Average True Range), to move between $26.24 and $26.86, which gives a possible trading interval of +/-$0.310 (+/-1.17%) up or down from last closing price. If Themes Cloud Computing Etf takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.94 (1.48%) than the support at $25.82 (2.74%), 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 Themes Cloud Computing Etf ETF A Buy?
Themes Cloud Computing Etf 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.647 Hold/Accumulate Downgraded
Predicted Opening Price for Themes Cloud Computing Etf of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $26.50 ( 0.199%) | $26.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.65 | 0.397% |
| R2 | 26.59 | 0.170% |
| R1 | 26.56 | 0.0290% |
| Price | 26.55 | |
| S1 | 26.44 | -0.426% |
| S2 | 26.40 | -0.567% |
| S3 | 26.34 | -0.795% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.28 | 2.76% |
| R2 | 27.23 | 2.57% |
| R1 | 26.94 | 1.48% |
| Price | 26.55 | |
| S1 | 25.82 | -2.74% |
| S2 | 25.76 | -2.97% |
| S3 | 25.22 | -5.00% |
FAQ
Click here for our free guide on how to buy Themes Cloud Computing Etf ETF.
