Calvert Ultra-short Investment Grade Etf ETF Forecast
Weaker technical forecast for Calvert Ultra-short Investment Grade Etf as ETF downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Calvert Ultra-short Investment Grade Etf ETF price fell by -0.363% on the last day (Friday, 28th Jun 2024) from $50.55 to $50.37. During the last trading day the ETF fluctuated 0.139% from a day low at $50.32 to a day high of $50.39. The price has been going up and down for this period, and there has been a -0.21% loss for the last 2 weeks. Volume has increased on the last day by 743 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, 3 thousand shares were bought and sold for approximately $165.76 thousand.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $50.43 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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CVSB Signals & Forecast
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. The Calvert Ultra-short Investment Grade Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $50.54 and $50.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.469%. Further fall is indicated until a new bottom pivot has been found. Calvert Ultra-short Investment Grade 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". The ETF had a Golden Star Signal on Friday, November 10, 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 Friday, November 10, 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.
A sell signal from a double top formation was found on Wednesday, June 26, 2024 with a target of $50.50. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for Calvert Ultra-short Investment Grade Etf ETF
Calvert Ultra-short Investment Grade Etf finds support from accumulated volume at $50.36 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 $0.0700 between high and low, or 0.139%. For the last week the ETF has had daily average volatility of 0.102%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVSB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Calvert Ultra-short Investment Grade Etf to open at $50.36, and during the day (based on 14 day Average True Range), to move between $50.27 and $50.47, which gives a possible trading interval of +/-$0.101 (+/-0.20%) up or down from last closing price. If Calvert Ultra-short Investment Grade Etf takes out the full calculated possible swing range there will be an estimated 0.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.37 (0.01%) than the support at $50.36 (0.01%), 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 Calvert Ultra-short Investment Grade Etf ETF A Buy?
Calvert Ultra-short Investment Grade Etf holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.013 Sell Candidate Downgraded
Predicted Opening Price for Calvert Ultra-short Investment Grade Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $50.36 ( 0.0154%) | $50.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVSB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.43 | 0.124% |
| R2 | 50.40 | 0.0705% |
| R1 | 50.39 | 0.0377% |
| Price | 50.37 | |
| S1 | 50.33 | -0.0684% |
| S2 | 50.32 | -0.101% |
| S3 | 50.29 | -0.154% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.52 | 0.305% |
| R2 | 50.51 | 0.285% |
| R1 | 50.37 | 0.0068% |
| Price | 50.37 | |
| S1 | 50.36 | -0.0131% |
| S2 | 50.35 | -0.0330% |
| S3 | 0 | - |
FAQ
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