Amplify Seymour Cannabis ETF Forecast
Amplify Seymour Cannabis ETF upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Amplify Seymour Cannabis ETF price fell by -0.529% on the last day (Friday, 3rd May 2024) from $5.67 to $5.64. During the last trading day the ETF fluctuated 3.22% from a day low at $5.59 to a day high of $5.77. The price has risen in 6 of the last 10 days and is up by 11.46% over the past 2 weeks. Volume has increased on the last day by 4 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, 25 thousand shares were bought and sold for approximately $138.41 thousand.
The ETF lies in the middle of a very wide and strong 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 12.20% during the next 3 months and, with a 90% probability hold a price between $5.38 and $7.26 at the end of this 3-month period.
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CNBS Signals & Forecast
The Amplify Seymour Cannabis 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 $5.51 and $5.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.535%. 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. Amplify Seymour Cannabis 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 Amplify Seymour Cannabis ETF
Amplify Seymour Cannabis finds support from accumulated volume at $5.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $0.180 between high and low, or 3.22%. For the last week, the ETF has had daily average volatility of 10.80%.
Our recommended stop-loss: $5.38 (-4.65%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CNBS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Amplify Seymour Cannabis ETF to open at $5.67, and during the day (based on 14 day Average True Range), to move between $5.31 and $5.97, which gives a possible trading interval of +/-$0.332 (+/-5.89%) up or down from last closing price. If Amplify Seymour Cannabis ETF takes out the full calculated possible swing range there will be an estimated 11.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.65 (0.18%) than the support at $5.61 (0.53%), 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 Amplify Seymour Cannabis ETF ETF A Buy?
Amplify Seymour Cannabis holds several positive signals and is within a strong 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: 5.627 Strong Buy Candidate Upgraded
Predicted Opening Price for Amplify Seymour Cannabis ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.67 ( 0.473%) | $5.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNBS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.85 | 3.66 % | |
| R2 | 5.78 | 2.45 % | ||
| R1 | 5.74 | 1.69 % | ||
| Current price: | 5.64 | |||
| Support | S1 | 5.60 | -0.746 % | |
| S2 | 5.56 | -1.50 % | ||
| S3 | 5.49 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.44 | 14.10 % | |
| R2 | 5.77 | 2.30 % | ||
| R1 | 5.65 | 0.177 % | ||
| Current price | 5.64 | |||
| Support | S1 | 5.61 | -0.532% | |
| S2 | 5.30 | -6.03% | ||
| S3 | 4.96 | -12.06% |
CNBS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2020 | Dec 29, 2020 | Dec 31, 2020 | $0.101 | 0.579% |
| 2 | Dec 27, 2019 | Dec 30, 2019 | Jan 02, 2020 | $0.0770 | 0.583% |
FAQ
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