EGSHARES EMERGING MARKETS CORE ETF Forecast

EGSHARES EMERGING MARKETS CORE ETF downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)

EMCR Signals & Forecast

The EGSHARES EMERGING MARKETS CORE ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $29.78. On a fall, the ETF will find some support from the long-term average at approximately $29.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. EGSHARES EMERGING MARKETS CORE 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 ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.

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 EGSHARES EMERGING MARKETS CORE ETF

EGSHARES EMERGING MARKETS CORE finds support from accumulated volume at $29.61 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 $0.220 between high and low, or 0.743%. For the last week the ETF has had daily average volatility of 0.405%.

Our recommended stop-loss: $28.49 (-3.86%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (EMCR) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect EGSHARES EMERGING MARKETS CORE ETF to open at $29.69, and during the day (based on 14 day Average True Range), to move between $29.40 and $29.88, which gives a possible trading interval of +/-$0.245 (+/-0.83%) up or down from last closing price. If EGSHARES EMERGING MARKETS CORE ETF takes out the full calculated possible swing range there will be an estimated 1.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.61 (0.10%) than the resistance at $29.80 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is EGSHARES EMERGING MARKETS CORE ETF ETF A Buy?

EGSHARES EMERGING MARKETS CORE 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: 0.363 Hold/Accumulate Downgraded

Predicted Opening Price for EGSHARES EMERGING MARKETS CORE ETF of Friday, June 28, 2024

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