Amundi Index Solutions - Amundi Index ETF Forecast
Amundi Index Solutions - Amundi Index ETF downgraded to Hold/Accumulate
(Updated on Jun 21, 2024)
The Amundi Index Solutions - Amundi Index ETF price gained 0.104% on the last trading day (Friday, 21st Jun 2024), rising from 50.89€ to 50.95€. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.124% from a day low at 50.91€ to a day high of 50.97€. The price has risen in 7 of the last 10 days and is up by 0.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately 169.91€ thousand.
The ETF has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. 50.93€ is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach 51.04€ sometime during the next 3 months.
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ECRP3.PA Signals & Forecast
The Amundi Index Solutions - Amundi Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 50.87€ and 50.78€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 0.440%. 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). Amundi Index Solutions - Amundi Index has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Amundi Index Solutions - Amundi Index ETF
Amundi Index Solutions - Amundi Index finds support from accumulated volume at 50.83€ 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 0.0630€ between high and low, or 0.124%. For the last week the ETF has had daily average volatility of 0.112%.
Our recommended stop-loss: 47.35€ (-7.05%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (ECRP3.PA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Amundi Index Solutions - Amundi Index Euro Corporate Sri 0-3 Y Ucits Etf Dr to open at 50.94€, and during the day (based on 14 day Average True Range), to move between 50.87€ and 51.02€, which gives a possible trading interval of +/-0.0735€ (+/-0.14%) up or down from last closing price. If Amundi Index Solutions - Amundi Index Euro Corporate Sri 0-3 Y Ucits Etf Dr takes out the full calculated possible swing range there will be an estimated 0.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 50.83€, some 0.114€ (0.22%) from the current price of 50.95€, our system finds the risk reward attractive.
Is Amundi Index Solutions - Amundi Index Euro Corporate Sri 0-3 Y Ucits Etf Dr ETF A Buy?
Amundi Index Solutions - Amundi Index 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Amundi Index Solutions - Amundi Index Euro Corporate Sri 0-3 Y Ucits Etf Dr of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 50.94€ ( 0.0111%) | 50.95€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECRP3.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.00 | 0.113% |
| R2 | 50.98 | 0.0653% |
| R1 | 50.96 | 0.0361% |
| Price | 50.95 | |
| S1 | 50.92 | -0.0584% |
| S2 | 50.90 | -0.0875% |
| S3 | 50.88 | -0.135% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 50.95 | |
| S1 | 50.83 | -0.224% |
| S2 | 50.72 | -0.438% |
| S3 | 50.65 | -0.573% |
FAQ
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