Calamos Etf Trust ETF Forecast
Calamos Etf Trust ETF upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The Calamos Etf Trust ETF price gained 0.0389% on the last trading day (Thursday, 27th Jun 2024), rising from $25.69 to $25.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.195% from a day low at $25.70 to a day high of $25.75. The price has risen in 6 of the last 10 days and is up by 0.29% over the past 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 26 thousand shares were bought and sold for approximately $664.04 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 is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Calamos Etf Trust ETF with a 90% probability to be traded between $25.99 and $26.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CPSM Signals & Forecast
The Calamos Etf Trust 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 $25.70 and $25.57. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.155%. Further fall is indicated until a new bottom pivot has been found. 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 also not.
Support, Risk & Stop-loss for Calamos Etf Trust ETF
Calamos Etf Trust finds support from accumulated volume at $25.70 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0500 between high and low, or 0.195%. For the last week the ETF has had daily average volatility of 0.241%
Our recommended stop-loss: $24.88 (-3.18%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (CPSM) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Calamos Etf Trust to open at $25.72, and during the day (based on 14 day Average True Range), to move between $25.63 and $25.77, which gives a possible trading interval of +/-$0.0714 (+/-0.28%) up or down from last closing price. If Calamos Etf Trust takes out the full calculated possible swing range there will be an estimated 0.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.70 (0.02%) than the resistance at $25.72 (0.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Calamos Etf Trust ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Calamos Etf Trust ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.263 Buy Candidate Upgraded
Predicted Opening Price for Calamos Etf Trust of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$25.72 ( 0.0649%) | $25.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPSM
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.77 | 0.259% |
R2 | 25.75 | 0.185% |
R1 | 25.74 | 0.139% |
Price | 25.70 | |
S1 | 25.70 | -0.0095% |
S2 | 25.69 | -0.0554% |
S3 | 25.67 | -0.130% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 25.74 | 0.156% |
R1 | 25.72 | 0.0778% |
Price | 25.70 | |
S1 | 25.70 | -0.0195% |
S2 | 25.63 | -0.292% |
S3 | 25.43 | -1.05% |
FAQ
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