Horizons DAX Germany ETF Forecast

Horizons DAX Germany ETF upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

DAX Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.09%. Further rise is indicated until a new top pivot has been found. Horizons DAX Germany has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Horizons DAX Germany ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $32.58. On a fall, the ETF will find some support from the short-term average at $32.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Horizons DAX Germany ETF

Horizons DAX Germany finds support from accumulated volume at $32.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.182 (0.563%) between high and low. For the last week, the ETF has had daily average volatility of 0.81%.

Our recommended stop-loss: $30.63 (-5.48%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (DAX) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Horizons DAX Germany ETF to open at $32.41, and during the day (based on 14 day Average True Range), to move between $32.03 and $32.79, which gives a possible trading interval of +/-$0.383 (+/-1.18%) up or down from last closing price. If Horizons DAX Germany ETF takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.50 (0.28%) than the support at $32.27 (0.43%), 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 Horizons DAX Germany ETF ETF A Buy?

Horizons DAX Germany holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.632 Hold/Accumulate Upgraded

Predicted Opening Price for Horizons DAX Germany ETF of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.