Betashares Martin Currie Emerging Trust Forecast
Betashares Martin Currie Emerging trust downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Betashares Martin Currie Emerging trust price fell by -0.335% on the last day (Wednesday, 26th Jun 2024) from $5.97 to $5.95. During the last trading day the trust fluctuated 1.01% from a day low at $5.95 to a day high of $6.01. The price has risen in 6 of the last 10 days and is up by 2.06% over the past 2 weeks. Volume has increased on the last day by 28 thousand 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, 53 thousand shares were bought and sold for approximately $316.70 thousand.
The trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Betashares Martin Currie Emerging trust with a 90% probability to be traded between $5.75 and $6.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EMMG.AX Signals & Forecast
The Betashares Martin Currie Emerging trust 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 trust giving a positive forecast for the stock. On further gains, the trust will meet resistance from the short-term Moving Average at approximately $5.96. On a fall, the trust will find some support from the long-term average at approximately $5.92. 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 Thursday, June 20, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found. Betashares Martin Currie Emerging 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".
A sell signal from a double top formation was found on Thursday, June 20, 2024 and based on theory for this formation the price should fall by -4.40% to $5.69 within 20 trading days since signal was issued (Thursday, July 18, 2024).
Support, Risk & Stop-loss for Betashares Martin Currie Emerging trust
Betashares Martin Currie Emerging finds support from accumulated volume at $5.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.0600 between high and low, or 1.01%. For the last week the trust has had daily average volatility of 0.98%.
Our recommended stop-loss: $5.79 (-2.73%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (EMMG.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Betashares Martin Currie Emerging Markets Fund (managed Fund) to open at $5.97, and during the day (based on 14 day Average True Range), to move between $5.89 and $6.01, which gives a possible trading interval of +/-$0.0631 (+/-1.06%) up or down from last closing price. If Betashares Martin Currie Emerging Markets Fund (managed Fund) takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.97 (0.34%) than the support at $5.91 (0.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Betashares Martin Currie Emerging Markets Fund (managed Fund) trust A Buy?
Betashares Martin Currie Emerging 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 trust since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.118 Hold/Accumulate Downgraded
Predicted Opening Price for Betashares Martin Currie Emerging Markets Fund (managed Fund) of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $5.97 ( 0.336%) | $5.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMMG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.03 | 1.34% |
| R2 | 6.01 | 0.96% |
| R1 | 5.99 | 0.721% |
| Price | 5.95 | |
| S1 | 5.95 | -0.0491% |
| S2 | 5.93 | -0.287% |
| S3 | 5.91 | -0.672% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.01 | 1.01% |
| R2 | 5.99 | 0.672% |
| R1 | 5.97 | 0.336% |
| Price | 5.95 | |
| S1 | 5.91 | -0.672% |
| S2 | 5.88 | -1.18% |
| S3 | 5.82 | -2.18% |
FAQ
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