Deka Stoxx Europe Strong Style Composite ETF Forecast

Red day on Friday for Deka Stoxx Europe Strong Style Composite
(Updated on Jun 21, 2024)

EL4E.F Signals & Forecast

There are few to no technical positive signals at the moment. The Deka Stoxx Europe Strong Style Composite 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 36.21€ and 37.09€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -1.99%. 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). Deka Stoxx Europe Strong Style Composite 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 Deka Stoxx Europe Strong Style Composite ETF

Deka Stoxx Europe Strong Style Composite finds support from accumulated volume at 35.83€ 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 0.440€ between high and low, or 1.22%. For the last week the ETF has had daily average volatility of 0.96%.

Our recommended stop-loss: 34.53€ (-3.88%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (EL4E.F) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Deka Stoxx Europe Strong Style Composite 40 Ucits Etf to open at 36.07€, and during the day (based on 14 day Average True Range), to move between 35.45€ and 36.40€, which gives a possible trading interval of +/-0.471€ (+/-1.31%) up or down from last closing price. If Deka Stoxx Europe Strong Style Composite 40 Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 35.83€ (0.26%) than the resistance at 36.42€ (1.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Deka Stoxx Europe Strong Style Composite 40 Ucits Etf ETF A Buy?

Deka Stoxx Europe Strong Style Composite 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: -0.779 Hold/Accumulate Unchanged

Predicted Opening Price for Deka Stoxx Europe Strong Style Composite 40 Ucits Etf of Monday, June 24, 2024

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