Cabana Target Leading Sector Moderate ETF Forecast
Green day on Tuesday for Cabana Target Leading Sector Moderate ETF after gaining 0.301%
(Updated on Jun 25, 2024)
The Cabana Target Leading Sector Moderate ETF price gained 0.301% on the last trading day (Tuesday, 25th Jun 2024), rising from $20.85 to $20.92. During the last trading day the ETF fluctuated 0.144% from a day low at $20.89 to a day high of $20.92. The price has risen in 7 of the last 10 days and is up by 2.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $521.96 thousand.
The ETF lies in the middle of a narrow and 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 3.49% during the next 3 months and, with a 90% probability hold a price between $21.35 and $21.76 at the end of this 3-month period.
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CLSM Signals & Forecast
Mostly positive signals in the chart today. The Cabana Target Leading Sector Moderate 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 $20.77 and $20.49. 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 4.26%. 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). Cabana Target Leading Sector Moderate has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Cabana Target Leading Sector Moderate ETF
Cabana Target Leading Sector Moderate finds support from accumulated volume at $20.50 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 0.144%. For the last week the ETF has had daily average volatility of 0.306%.
The Cabana Target Leading Sector Moderate ETF is extremely overbought on RSI14 (92). This increases the short-term risk substantially.
Our recommended stop-loss: $19.87 (-4.99%) (This ETF has low daily movements and this gives low risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (CLSM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Cabana Target Leading Sector Moderate Etf to open at $20.91, and during the day (based on 14 day Average True Range), to move between $20.80 and $21.03, which gives a possible trading interval of +/-$0.117 (+/-0.56%) up or down from last closing price. If Cabana Target Leading Sector Moderate Etf takes out the full calculated possible swing range there will be an estimated 1.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.50, some $0.413 (1.97%) from the current price of $20.92, our system finds the risk reward attractive.
Is Cabana Target Leading Sector Moderate 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 Cabana Target Leading Sector Moderate ETF to perform well in the short-term.
Current score: 3.318 Buy Candidate Unchanged
Predicted Opening Price for Cabana Target Leading Sector Moderate Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $20.91 ( 0.0319%) | $20.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLSM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.94 | 0.112% |
| R2 | 20.93 | 0.0568% |
| R1 | 20.92 | 0.0229% |
| Price | 20.92 | |
| S1 | 20.90 | -0.0867% |
| S2 | 20.89 | -0.121% |
| S3 | 20.88 | -0.175% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 20.92 | |
| S1 | 20.50 | -1.97% |
| S2 | 20.33 | -2.80% |
| S3 | 20.06 | -4.09% |
CLSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 26, 2023 | Dec 29, 2023 | $0.526 | 2.58% |
| 2 | Dec 23, 2022 | Dec 27, 2022 | Dec 30, 2022 | $0.638 | 3.17% |
| 3 | Dec 29, 2021 | Dec 30, 2021 | Jan 04, 2022 | $0.160 | 0.592% |
FAQ
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