Deka Iboxx Eur Liquid Sovereign ETF Forecast

Deka Iboxx Eur Liquid Sovereign ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)

EL4L.F Signals & Forecast

The Deka Iboxx Eur Liquid Sovereign 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 90.95€ and 90.68€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.724%. 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. The ETF had a Golden Star Signal on Friday, May 31, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, August 16, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Deka Iboxx Eur Liquid Sovereign ETF

Deka Iboxx Eur Liquid Sovereign finds support from accumulated volume at 90.73€ 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 0.116€ between high and low, or 0.128%. For the last week the ETF has had daily average volatility of 0.108%

Our recommended stop-loss: 84.74€ (-6.89%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 72 days ago.)

Trading Expectations (EL4L.F) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Deka Iboxx Eur Liquid Sovereign Diversified 1-3 Ucits Etf to open at 91.01€, and during the day (based on 14 day Average True Range), to move between 90.89€ and 91.12€, which gives a possible trading interval of +/-0.115€ (+/-0.13%) up or down from last closing price. If Deka Iboxx Eur Liquid Sovereign Diversified 1-3 Ucits Etf takes out the full calculated possible swing range there will be an estimated 0.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 90.73€ (0.30%) than the resistance at 91.53€ (0.58%), 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 Iboxx Eur Liquid Sovereign Diversified 1-3 Ucits Etf ETF A Buy?

Deka Iboxx Eur Liquid Sovereign 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.455 Hold/Accumulate Upgraded

Predicted Opening Price for Deka Iboxx Eur Liquid Sovereign Diversified 1-3 Ucits Etf of Monday, June 24, 2024

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