AdvisorShares Restaurant ETF Forecast
Green day on Monday for AdvisorShares Restaurant ETF after gaining 2.11%
(Updated on May 06, 2024)
The AdvisorShares Restaurant ETF price gained 2.11% on the last trading day (Monday, 6th May 2024), rising from $23.69 to $24.19. During the last trading day the ETF fluctuated 0.539% from a day low at $24.07 to a day high of $24.20. The price has been going up and down for this period, and there has been a 5.95% gain for the last 2 weeks. Volume fell on the last day by -339 shares and in total, 583 shares were bought and sold for approximately $14.10 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AdvisorShares Restaurant ETF with a 90% probability to be traded between $23.01 and $24.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EATZ Signals & Forecast
The AdvisorShares Restaurant ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $23.66 and $23.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.96%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AdvisorShares Restaurant ETF
AdvisorShares Restaurant finds support from accumulated volume at $23.91 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.130 between high and low, or 0.539%. For the last week the ETF has had daily average volatility of 0.218%
Our recommended stop-loss: $23.14 (-4.35%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (EATZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect AdvisorShares Restaurant ETF to open at $24.15, and during the day (based on 14 day Average True Range), to move between $23.90 and $24.48, which gives a possible trading interval of +/-$0.290 (+/-1.20%) up or down from last closing price. If AdvisorShares Restaurant ETF takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.23 (0.17%) than the support at $23.91 (1.16%), 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 AdvisorShares Restaurant ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for AdvisorShares Restaurant ETF to perform well in the short-term period.
Current score: 2.847 Buy Candidate Unchanged
Predicted Opening Price for AdvisorShares Restaurant ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $24.15 ( 0.151%) | $24.19 |
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 | 24.28 | 0.385 % | |
| R2 | 24.23 | 0.180 % | ||
| R1 | 24.20 | 0.0537 % | ||
| Current price: | 24.19 | |||
| Support | S1 | 24.10 | -0.356 % | |
| S2 | 24.07 | -0.483 % | ||
| S3 | 24.02 | -0.688 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.46 | 1.12 % | |
| R2 | 24.38 | 0.785 % | ||
| R1 | 24.23 | 0.165 % | ||
| Current price | 24.19 | |||
| Support | S1 | 23.91 | -1.16% | |
| S2 | 23.78 | -1.69% | ||
| S3 | 22.91 | -5.29% |
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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