Even Herd Long Short Etf ETF Forecast

Red day on Thursday for Even Herd Long Short Etf ETF after losing 1.77%
(Updated on Jun 20, 2024)

EHLS Signals & Forecast

There are few to no technical positive signals at the moment. The Even Herd Long Short Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.42 and $20.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.20%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Even Herd Long Short Etf ETF

Even Herd Long Short Etf finds support from accumulated volume at $20.27 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 controlled movements and therefore the general risk is considered 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 $0.506 between high and low, or 2.50%. For the last week the ETF has had daily average volatility of 1.14%.

Our recommended stop-loss: $19.02 (-6.26%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (EHLS) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Even Herd Long Short Etf to open at $20.46, and during the day (based on 14 day Average True Range), to move between $20.00 and $20.59, which gives a possible trading interval of +/-$0.295 (+/-1.45%) up or down from last closing price. If Even Herd Long Short Etf takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.27 (0.11%) than the resistance at $20.42 (0.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Even Herd Long Short Etf ETF A Buy?

Even Herd Long Short Etf 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: -0.890 Hold/Accumulate Unchanged

Predicted Opening Price for Even Herd Long Short Etf of Friday, June 21, 2024

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