Bnp Paribas Easy Esg Equity Low Vol ETF Forecast
Bnp Paribas Easy Esg Equity Low Vol ETF downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)
The Bnp Paribas Easy Esg Equity Low Vol ETF price fell by -0.324% on the last day (Thursday, 27th Jun 2024) from 173.04€ to 172.48€. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.99% from a day low at 172.48€ to a day high of 174.18€. The price has been going up and down for this period, and there has been a 0.12% gain 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 -245 shares and in total, 3 shares were bought and sold for approximately 517.44€ .
The ETF 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 Bnp Paribas Easy Esg Equity Low Vol ETF with a 90% probability to be traded between 172.98€ and 177.04€ 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EVOE.PA Signals & Forecast
There are few to no technical positive signals at the moment. The Bnp Paribas Easy Esg Equity Low Vol ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 173.47€ and 172.85€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -1.34% to 170.17€ within 12 trading days since signal was issued (Wednesday, July 10, 2024).
Support, Risk & Stop-loss for Bnp Paribas Easy Esg Equity Low Vol ETF
Bnp Paribas Easy Esg Equity Low Vol finds support from accumulated volume at 172.42€ 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 1.70€ between high and low, or 0.99%. For the last week the ETF has had daily average volatility of 0.618%
Our recommended stop-loss: 164.84€ (-4.43%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (EVOE.PA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Bnp Paribas Easy Esg Equity Low Vol Europe to open at 173.05€, and during the day (based on 14 day Average True Range), to move between 171.39€ and 173.57€, which gives a possible trading interval of +/-1.09€ (+/-0.63%) up or down from last closing price. If Bnp Paribas Easy Esg Equity Low Vol Europe takes out the full calculated possible swing range there will be an estimated 1.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 172.42€ (0.03%) than the resistance at 173.04€ (0.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bnp Paribas Easy Esg Equity Low Vol Europe ETF A Buy?
Bnp Paribas Easy Esg Equity Low Vol holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.497 Hold/Accumulate Downgraded
Predicted Opening Price for Bnp Paribas Easy Esg Equity Low Vol Europe of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 173.05€ ( 0.329%) | 172.48€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVOE.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 174.75 | 1.31% |
| R2 | 174.10 | 0.94% |
| R1 | 173.70 | 0.705% |
| Price | 172.48 | |
| S1 | 172.40 | -0.0480% |
| S2 | 172.00 | -0.281% |
| S3 | 171.35 | -0.657% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 173.66 | 0.684% |
| R2 | 173.26 | 0.452% |
| R1 | 173.04 | 0.325% |
| Price | 172.48 | |
| S1 | 172.42 | -0.0348% |
| S2 | 171.96 | -0.301% |
| S3 | 171.88 | -0.348% |
FAQ
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