Desjardins Ri Usa ETF Forecast

Desjardins Ri Usa ETF price ended at $39.56 on Wednesday, after losing 0.126%.
(Updated on Jun 26, 2024)

DRMU.TO Signals & Forecast

The Desjardins Ri Usa ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $39.68. On a fall, the ETF will find some support from the long-term average at approximately $39.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -1.03%. Further fall is indicated until a new bottom pivot has been found. Desjardins Ri Usa 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 very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Desjardins Ri Usa ETF

Desjardins Ri Usa finds support from accumulated volume at $38.38 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 0.177%. For the last week the ETF has had daily average volatility of 0.167%.

Our recommended stop-loss: $38.48 (-2.72%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (DRMU.TO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Desjardins Ri Usa to open at $39.58, and during the day (based on 14 day Average True Range), to move between $39.35 and $39.77, which gives a possible trading interval of +/-$0.208 (+/-0.53%) up or down from last closing price. If Desjardins Ri Usa takes out the full calculated possible swing range there will be an estimated 1.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $39.62 (0.15%) than the support at $38.38 (2.98%), 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 Desjardins Ri Usa ETF A Buy?

Desjardins Ri Usa 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.

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 Usa of Thursday, June 27, 2024

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