Desjardins Ri Developed Ex-usa Ex-canada ETF Forecast
Red day on Wednesday for Desjardins Ri Developed Ex-usa Ex-canada
(Updated on Jun 26, 2024)
The Desjardins Ri Developed Ex-usa Ex-canada ETF price fell by -0.444% on the last day (Wednesday, 26th Jun 2024) from $24.76 to $24.65. During the last trading day the ETF fluctuated 0.365% from a day low at $24.63 to a day high of $24.72. The price has fallen in 6 of the last 10 days and is down by -13.17% for this period. Volume has increased on the last day by 7 thousand 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, 7 thousand shares were bought and sold for approximately $167.67 thousand.
The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.17 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -11.95% during the next 3 months and, with a 90% probability hold a price between $21.28 and $23.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DRMD.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.203%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Desjardins Ri Developed Ex-usa Ex-canada 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 $26.01 and $27.34. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Desjardins Ri Developed Ex-usa Ex-canada 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".
Support, Risk & Stop-loss for Desjardins Ri Developed Ex-usa Ex-canada ETF
Desjardins Ri Developed Ex-usa Ex-canada finds support from accumulated volume at $24.60 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 $0.0900 between high and low, or 0.365%. For the last week the ETF has had daily average volatility of 2.16%.
Desjardins Ri Developed Ex-usa Ex-canada is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $23.27 (-5.58%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 18 which reduces the risk some. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (DRMD.TO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Desjardins Ri Developed Ex-usa Ex-canada Low Co2 Index Etf to open at $24.67, and during the day (based on 14 day Average True Range), to move between $24.25 and $25.05, which gives a possible trading interval of +/-$0.403 (+/-1.64%) up or down from last closing price. If Desjardins Ri Developed Ex-usa Ex-canada Low Co2 Index Etf takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.60 (0.20%) than the resistance at $27.75 (12.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Desjardins Ri Developed Ex-usa Ex-canada Low Co2 Index Etf ETF A Buy?
Desjardins Ri Developed Ex-usa Ex-canada holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Desjardins Ri Developed Ex-usa Ex-canada Low Co2 Index Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $24.67 ( 0.0676%) | $24.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRMD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.76 | 0.433% |
| R2 | 24.72 | 0.293% |
| R1 | 24.70 | 0.207% |
| Price | 24.65 | |
| S1 | 24.63 | -0.0719% |
| S2 | 24.61 | -0.158% |
| S3 | 24.58 | -0.297% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.39 | 15.17% |
| R2 | 28.26 | 14.65% |
| R1 | 27.75 | 12.58% |
| Price | 24.65 | |
| S1 | 24.60 | -0.203% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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