Even Herd Long Short Etf ETF Forecast
Even Herd Long Short Etf ETF price ended at $20.05 on Monday, after losing 0.255%.
(Updated on Jun 24, 2024)
The Even Herd Long Short Etf ETF price fell by -0.255% on the last day (Monday, 24th Jun 2024) from $20.10 to $20.05. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.200% from a day low at $20.03 to a day high of $20.07. The price has fallen in 6 of the last 10 days and is down by -0.43% for this period. Volume has increased on the last day by 564 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, 775 shares were bought and sold for approximately $15.53 thousand.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.66 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 4.46% during the next 3 months and, with a 90% probability hold a price between $20.53 and $22.67 at the end of this 3-month period.
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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 $20.33 and $20.66. 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 -6.36%. 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). Even Herd Long Short Etf 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.
Support, Risk & Stop-loss for Even Herd Long Short Etf ETF
Even Herd Long Short Etf finds support from accumulated volume at $19.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.0400 (0.200%) between high and low. For the last week, the ETF has had daily average volatility of 0.90%.
Our recommended stop-loss: $19.01 (-5.16%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (EHLS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Even Herd Long Short Etf to open at $20.05, and during the day (based on 14 day Average True Range), to move between $19.77 and $20.32, which gives a possible trading interval of +/-$0.272 (+/-1.36%) 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 2.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.96 (0.41%) than the resistance at $20.42 (1.87%), 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: 0.280 Hold/Accumulate Unchanged
Predicted Opening Price for Even Herd Long Short Etf of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
$20.05 ( 0.0166%) | $20.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EHLS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.09 | 0.216% |
R2 | 20.07 | 0.140% |
R1 | 20.06 | 0.0929% |
Price | 20.05 | |
S1 | 20.03 | -0.0596% |
S2 | 20.02 | -0.107% |
S3 | 20.01 | -0.183% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.47 | 2.12% |
R2 | 20.43 | 1.92% |
R1 | 20.42 | 1.87% |
Price | 20.05 | |
S1 | 19.96 | -0.411% |
S2 | 19.92 | -0.624% |
S3 | 19.71 | -1.70% |
FAQ
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