Sprott Junior Copper Miners Etf ETF Forecast
Sprott Junior Copper Miners Etf ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Sprott Junior Copper Miners Etf ETF price fell by -1.91% on the last day (Tuesday, 25th Jun 2024) from $21.95 to $21.53. During the last trading day the ETF fluctuated 1.30% from a day low at $21.52 to a day high of $21.80. The price has fallen in 6 of the last 10 days and is down by -3.76% for this period. Volume has increased on the last day by 318 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, 8 thousand shares were bought and sold for approximately $172.54 thousand.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 3.83% during the next 3 months and, with a 90% probability hold a price between $22.11 and $27.47 at the end of this 3-month period.
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COPJ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.46%. 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. The Sprott Junior Copper Miners 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 $21.64 and $23.08. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Sprott Junior Copper Miners 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 Sprott Junior Copper Miners Etf ETF
Sprott Junior Copper Miners Etf finds support from accumulated volume at $21.22 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.280 between high and low, or 1.30%. For the last week, the ETF has had daily average volatility of 2.33%.
Our recommended stop-loss: $20.46 (-4.96%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (COPJ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sprott Junior Copper Miners Etf to open at $21.62, and during the day (based on 14 day Average True Range), to move between $20.89 and $22.17, which gives a possible trading interval of +/-$0.637 (+/-2.96%) up or down from last closing price. If Sprott Junior Copper Miners Etf takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.22 (1.44%) than the resistance at $22.19 (3.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sprott Junior Copper Miners Etf ETF A Buy?
Sprott Junior Copper Miners Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.440 Hold/Accumulate Upgraded
Predicted Opening Price for Sprott Junior Copper Miners Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $21.62 ( 0.403%) | $21.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COPJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.90 | 1.70% |
| R2 | 21.79 | 1.21% |
| R1 | 21.72 | 0.90% |
| Price | 21.53 | |
| S1 | 21.51 | -0.0939% |
| S2 | 21.44 | -0.401% |
| S3 | 21.34 | -0.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.08 | 21.13% |
| R2 | 23.98 | 11.38% |
| R1 | 22.19 | 3.07% |
| Price | 21.53 | |
| S1 | 21.22 | -1.44% |
| S2 | 21.17 | -1.67% |
| S3 | 21.03 | -2.32% |
COPJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 13, 2023 | Dec 14, 2023 | Dec 21, 2023 | $0.456 | 2.47% |
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