PowerShares DB Commodity Index Fund ETF Forecast
PowerShares DB Commodity Index Fund ETF price up 0.173% on Wednesday
(Updated on Jun 26, 2024)
The PowerShares DB Commodity Index Fund ETF price gained 0.173% on the last trading day (Wednesday, 26th Jun 2024), rising from $23.17 to $23.21. During the last trading day the ETF fluctuated 0.739% from a day low at $23.14 to a day high of $23.32. The price has risen in 7 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 482 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $28.13 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PowerShares DB Commodity Index Fund ETF with a 90% probability to be traded between $22.33 and $23.52 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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DBC Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PowerShares DB Commodity Index Fund 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 $23.26 and $23.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.770%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for PowerShares DB Commodity Index Fund ETF
PowerShares DB Commodity Index Fund finds support from accumulated volume at $23.08 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 $0.171 between high and low, or 0.739%. For the last week the ETF has had daily average volatility of 0.722%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DBC) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect PowerShares DB Commodity Index Fund ETF to open at $23.22, and during the day (based on 14 day Average True Range), to move between $22.98 and $23.44, which gives a possible trading interval of +/-$0.230 (+/-0.99%) up or down from last closing price. If PowerShares DB Commodity Index Fund ETF takes out the full calculated possible swing range there will be an estimated 1.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.34 (0.56%) than the support at $23.08 (0.56%), 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 PowerShares DB Commodity Index Fund ETF ETF A Buy?
PowerShares DB Commodity Index Fund holds several negative signals and is within a 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.
Current score: -2.617 Sell Candidate Unchanged
Predicted Opening Price for PowerShares DB Commodity Index Fund ETF of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $23.22 ( 0.0559%) | $23.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.39 | 0.793% |
| R2 | 23.33 | 0.511% |
| R1 | 23.29 | 0.337% |
| Price | 23.21 | |
| S1 | 23.16 | -0.226% |
| S2 | 23.12 | -0.400% |
| S3 | 23.05 | -0.681% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.75 | 2.33% |
| R2 | 23.71 | 2.15% |
| R1 | 23.34 | 0.560% |
| Price | 23.21 | |
| S1 | 23.08 | -0.560% |
| S2 | 22.97 | -1.03% |
| S3 | 22.70 | -2.20% |
DBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $1.09 | 4.88% |
| 2 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.145 | 0.591% |
| 3 | Jan 18, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.254 | 1.59% |
| 4 | Dec 21, 2018 | Dec 24, 2018 | Dec 31, 2018 | $0.189 | 1.30% |
| 5 | Dec 15, 2008 | Dec 15, 2008 | Dec 15, 2008 | $0.340 | 1.62% |
FAQ
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