PowerShares DB Energy Fund ETF Forecast

PowerShares DB Energy Fund ETF upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)

DBE Signals & Forecast

The PowerShares DB Energy Fund 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 $20.81 and $20.30. 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). PowerShares DB Energy Fund 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.191%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for PowerShares DB Energy Fund ETF

PowerShares DB Energy Fund finds support from accumulated volume at $20.81 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 $0.240 (1.15%) between high and low. For the last week, the ETF has had daily average volatility of 0.92%.

The PowerShares DB Energy Fund ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $20.21 (-3.38%) (This ETF has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (DBE) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect PowerShares DB Energy Fund ETF to open at $20.92, and during the day (based on 14 day Average True Range), to move between $20.68 and $21.16, which gives a possible trading interval of +/-$0.241 (+/-1.15%) up or down from last closing price. If PowerShares DB Energy Fund ETF takes out the full calculated possible swing range there will be an estimated 2.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.81 (0.53%) than the resistance at $21.40 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PowerShares DB Energy Fund ETF ETF A Buy?

PowerShares DB Energy Fund 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: 0.001 Hold/Accumulate Upgraded

Predicted Opening Price for PowerShares DB Energy Fund ETF of Thursday, June 27, 2024

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