Fidelity U.s. High Quality Currency ETF Forecast

Fidelity U.s. High Quality Currency ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

FCQH.TO Signals & Forecast

The Fidelity U.s. High Quality Currency 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 $53.28. On a fall, the ETF will find some support from the long-term average at approximately $51.88. 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). Fidelity U.s. High Quality Currency has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, June 19, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Fidelity U.s. High Quality Currency ETF

Fidelity U.s. High Quality Currency finds support from accumulated volume at $52.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.220 (0.414%) between high and low. For the last week, the ETF has had daily average volatility of 0.350%.

Our recommended stop-loss: $51.01 (-4.00%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 35 days ago.)

Trading Expectations (FCQH.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Fidelity U.s. High Quality Currency Neutral Index Etf to open at $53.21, and during the day (based on 14 day Average True Range), to move between $52.85 and $53.43, which gives a possible trading interval of +/-$0.287 (+/-0.54%) up or down from last closing price. If Fidelity U.s. High Quality Currency Neutral Index Etf takes out the full calculated possible swing range there will be an estimated 1.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $52.96 (0.34%) than the resistance at $53.41 (0.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Fidelity U.s. High Quality Currency Neutral Index 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 Fidelity U.s. High Quality Currency ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.282 Buy Candidate Upgraded

Predicted Opening Price for Fidelity U.s. High Quality Currency Neutral Index Etf of Tuesday, July 2, 2024

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