United States Copper Index Fund, LP ETF Forecast
United States Copper Index Fund, LP ETF price ended at $27.21 on Friday, after gaining 1.08%.
(Updated on Jun 28, 2024)
The United States Copper Index Fund, LP ETF price gained 1.08% on the last trading day (Friday, 28th Jun 2024), rising from $26.92 to $27.21. During the last trading day the ETF fluctuated 1.14% from a day low at $27.14 to a day high of $27.45. The price has risen in 6 of the last 10 days but is still down by -1.45% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 145 thousand shares were bought and sold for approximately $3.94 million.
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 $26.94 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 3.96% during the next 3 months and, with a 90% probability hold a price between $28.01 and $33.15 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CPER Signals & Forecast
There are mixed signals in the ETF today. The United States Copper Index Fund, LP 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 $27.35 and $28.62. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.08%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for United States Copper Index Fund, LP ETF
United States Copper Index Fund, LP finds support from accumulated volume at $26.91 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 $0.310 between high and low, or 1.14%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPER) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect United States Copper Index Fund, LP to open at $27.27, and during the day (based on 14 day Average True Range), to move between $26.69 and $27.73, which gives a possible trading interval of +/-$0.522 (+/-1.92%) up or down from last closing price. If United States Copper Index Fund, LP takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.91 (1.10%) than the resistance at $29.56 (8.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United States Copper Index Fund, LP ETF A Buy?
United States Copper Index Fund, LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.153 Sell Candidate Unchanged
Predicted Opening Price for United States Copper Index Fund, LP of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $27.27 ( 0.208%) | $27.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPER
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.58 | 1.35% |
| R2 | 27.46 | 0.91% |
| R1 | 27.39 | 0.643% |
| Price | 27.21 | |
| S1 | 27.15 | -0.227% |
| S2 | 27.08 | -0.496% |
| S3 | 26.96 | -0.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.33 | 15.14% |
| R2 | 31.19 | 14.63% |
| R1 | 29.56 | 8.64% |
| Price | 27.21 | |
| S1 | 26.91 | -1.10% |
| S2 | 26.88 | -1.21% |
| S3 | 26.35 | -3.16% |
FAQ
Click here for our free guide on how to buy United States Copper Index Fund, LP ETF.
