AdvisorShares Restaurant ETF Forecast
Red day on Thursday for AdvisorShares Restaurant ETF after losing 0.257%
(Updated on Apr 25, 2024)
The AdvisorShares Restaurant ETF price fell by -0.257% on the last day (Thursday, 25th Apr 2024) from $23.31 to $23.25. During the last trading day the ETF fluctuated 0.87% from a day low at $23.05 to a day high of $23.25. The price has been going up and down for this period, and there has been a -1.14% loss for the last 2 weeks. Volume has increased on the last day by 497 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, 811 shares were bought and sold for approximately $18.86 thousand.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.92 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 3.80% during the next 3 months and, with a 90% probability hold a price between $23.79 and $25.92 at the end of this 3-month period.
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EATZ Signals & Forecast
There are mixed signals in the ETF today. The AdvisorShares Restaurant ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $23.86. On a fall, the ETF will find some support from the short-term average at $23.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). AdvisorShares Restaurant 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. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.84%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for AdvisorShares Restaurant ETF
AdvisorShares Restaurant finds support from accumulated volume at $22.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.200 between high and low, or 0.87%. For the last week, the ETF has had daily average volatility of 0.497%.
Our recommended stop-loss: $22.14 (-4.76%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EATZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect AdvisorShares Restaurant ETF to open at $23.18, and during the day (based on 14 day Average True Range), to move between $23.00 and $23.50, which gives a possible trading interval of +/-$0.255 (+/-1.10%) up or down from last closing price. If AdvisorShares Restaurant ETF takes out the full calculated possible swing range there will be an estimated 2.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.94 (1.33%) than the resistance at $23.78 (2.28%), 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 Restaurant ETF ETF A Buy?
AdvisorShares Restaurant 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: 0.110 Hold/Accumulate Unchanged
Predicted Opening Price for AdvisorShares Restaurant ETF of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$23.18 ( 0.287%) | $23.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EATZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.38 | 0.573 % | |
R2 | 23.31 | 0.245 % | ||
R1 | 23.26 | 0.0419 % | ||
Current price: | 23.25 | |||
Support | S1 | 23.11 | -0.615 % | |
S2 | 23.06 | -0.82 % | ||
S3 | 22.98 | -1.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.23 | 4.22 % | |
R2 | 23.91 | 2.84 % | ||
R1 | 23.78 | 2.28 % | ||
Current price | 23.25 | |||
Support | S1 | 22.94 | -1.33% | |
S2 | 22.91 | -1.46% | ||
S3 | 22.54 | -3.08% |
EATZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 26, 2023 | Dec 26, 2023 | Dec 26, 2023 | $0.112 | 0.493% |
2 | Dec 23, 2022 | Dec 23, 2022 | Dec 23, 2022 | $0.429 | 2.31% |
FAQ
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