Alerian Energy Infrastructure ETF Forecast

Green day on Thursday for Alerian Energy Infrastructure
(Updated on Apr 25, 2024)

ENFR Signals & Forecast

The Alerian Energy Infrastructure 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 $25.20 and $25.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Support, Risk & Stop-loss for Alerian Energy Infrastructure ETF

Alerian Energy Infrastructure finds support from accumulated volume at $24.74 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 $0.351 between high and low, or 1.38%. For the last week the ETF has had daily average volatility of 1.27%

Since the Alerian Energy Infrastructure has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $24.70 (-4.05%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (ENFR) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Alerian Energy Infrastructure ETF to open at $25.62, and during the day (based on 14 day Average True Range), to move between $25.47 and $26.01, which gives a possible trading interval of +/-$0.274 (+/-1.06%) up or down from last closing price. If Alerian Energy Infrastructure ETF takes out the full calculated possible swing range there will be an estimated 2.13% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $24.74, some $1.00 (3.89%) from the current price of $25.74, our system finds the risk reward attractive.

Is Alerian Energy Infrastructure ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Alerian Energy Infrastructure ETF to perform well in the short-term.

Current score: 3.739 Buy Candidate Unchanged

Predicted Opening Price for Alerian Energy Infrastructure ETF of Friday, April 26, 2024

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