Legal & General Ucits Etf Plc - L&g ETF Forecast
Red day on Wednesday for Legal & General Ucits Etf Plc - L&g ETF after losing 0.0311%
(Updated on Jun 26, 2024)
The Legal & General Ucits Etf Plc - L&g ETF price fell by -0.0311% on the last day (Wednesday, 26th Jun 2024) from 12.88€ to 12.88€. During the last trading day the ETF fluctuated 0.761% from a day low at 12.88€ to a day high of 12.97€. The price has been going up and down for this period, and there has been a -0.65% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -10 thousand shares and in total, 5 thousand shares were bought and sold for approximately 64.99€ thousand.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -2.58% during the next 3 months and, with a 90% probability hold a price between 12.00€ and 12.69€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ETLR.F Signals & Forecast
The Legal & General Ucits Etf Plc - L&g ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 12.73€ and 12.81€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 1.96%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. 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 in the short-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.
Golden Star
The ETF had a Golden Star Signal on Friday, May 31, 2024 in the short-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.
A sell signal from a double top formation was found on Monday, June 10, 2024 and based on theory for this formation the price should fall by -2.97% to 12.49€ within 25 trading days since signal was issued (Monday, July 15, 2024).
Support, Risk & Stop-loss for Legal & General Ucits Etf Plc - L&g ETF
Legal & General Ucits Etf Plc - L&g finds support from accumulated volume at 12.87€ 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 0.0980€ between high and low, or 0.761%. For the last week the ETF has had daily average volatility of 0.405%
Our recommended stop-loss: 12.14€ (-5.69%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ETLR.F) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Legal & General Ucits Etf Plc - L&g Japan Equity Ucits Etf to open at 12.91€, and during the day (based on 14 day Average True Range), to move between 12.77€ and 12.98€, which gives a possible trading interval of +/-0.108€ (+/-0.84%) up or down from last closing price. If Legal & General Ucits Etf Plc - L&g Japan Equity Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 12.87€ (0.05%) than the resistance at 12.91€ (0.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Legal & General Ucits Etf Plc - L&g Japan Equity Ucits Etf ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 1.645 Buy Candidate Unchanged
Predicted Opening Price for Legal & General Ucits Etf Plc - L&g Japan Equity Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 12.91€ ( 0.254%) | 12.88€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETLR.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.01 | 1.01% |
| R2 | 12.97 | 0.724% |
| R1 | 12.95 | 0.544% |
| Price | 12.88 | |
| S1 | 12.87 | -0.0370% |
| S2 | 12.85 | -0.217% |
| S3 | 12.81 | -0.507% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.07 | 1.51% |
| R2 | 12.98 | 0.81% |
| R1 | 12.91 | 0.264% |
| Price | 12.88 | |
| S1 | 12.87 | -0.0466% |
| S2 | 12.82 | -0.435% |
| S3 | 12.81 | -0.513% |
FAQ
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