AdvisorShares Dorsey Wright Short ETF Forecast

Red day on Thursday for AdvisorShares Dorsey Wright Short
(Updated on May 02, 2024)

DWSH Signals & Forecast

The AdvisorShares Dorsey Wright Short 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 $7.43. On a fall, the ETF will find some support from the long-term average at approximately $7.32. 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. 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 Wednesday, April 17, 2024, and so far it has fallen -3.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). AdvisorShares Dorsey Wright Short 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 AdvisorShares Dorsey Wright Short ETF

AdvisorShares Dorsey Wright Short finds support from accumulated volume at $7.30 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 $0.0889 between high and low, or 1.22%. For the last week the ETF has had daily average volatility of 1.28%.

Our recommended stop-loss: $7.07 (-3.80%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (DWSH) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect AdvisorShares Dorsey Wright Short ETF to open at $7.35, and during the day (based on 14 day Average True Range), to move between $7.23 and $7.47, which gives a possible trading interval of +/-$0.120 (+/-1.64%) up or down from last closing price. If AdvisorShares Dorsey Wright Short 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 $7.30 (0.71%) than the resistance at $7.46 (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AdvisorShares Dorsey Wright Short ETF ETF A Buy?

AdvisorShares Dorsey Wright Short 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: -0.731 Hold/Accumulate Unchanged

Predicted Opening Price for AdvisorShares Dorsey Wright Short ETF of Friday, May 3, 2024

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