Fidelity Emerging Markets Quality Income ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Fidelity Emerging Markets Quality Income ETF downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
The Fidelity Emerging Markets Quality Income ETF price fell by -0.93% on the last day (Tuesday, 25th Jun 2024) from $6.21 to $6.15. During the last trading day the ETF fluctuated 0.569% from a day low at $6.15 to a day high of $6.19. The price has risen in 4 of the last 10 days and is up by 1.27% over the past 2 weeks. Volume has increased on the last day by 157 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, 165 shares were bought and sold for approximately $1.01 thousand.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 6.85% during the next 3 months and, with a 90% probability hold a price between $6.41 and $6.70 at the end of this 3-month period.
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FEMI.L Signals & Forecast
The Fidelity Emerging Markets Quality Income 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 $6.19. On a fall, the ETF will find some support from the long-term average at approximately $6.10. 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 -1.60%. Further fall is indicated until a new bottom pivot has been found. Fidelity Emerging Markets Quality Income 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fidelity Emerging Markets Quality Income ETF
Fidelity Emerging Markets Quality Income finds support from accumulated volume at $5.95 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0350 between high and low, or 0.569%. For the last week the ETF has had daily average volatility of 0.245%.
Our recommended stop-loss: $5.98 (-2.81%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (FEMI.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Fidelity Emerging Markets Quality Income Ucits Etf Usd Acc to open at $6.16, and during the day (based on 14 day Average True Range), to move between $6.11 and $6.19, which gives a possible trading interval of +/-$0.0425 (+/-0.69%) up or down from last closing price. If Fidelity Emerging Markets Quality Income Ucits Etf Usd Acc takes out the full calculated possible swing range there will be an estimated 1.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.16 (0.16%) than the support at $5.95 (3.25%), 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 Fidelity Emerging Markets Quality Income Ucits Etf Usd Acc ETF A Buy?
Fidelity Emerging Markets Quality Income 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 ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.155 Hold/Accumulate Downgraded
Predicted Opening Price for Fidelity Emerging Markets Quality Income Ucits Etf Usd Acc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.16 ( 0.190%) | $6.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEMI.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.20 | 0.759% |
| R2 | 6.18 | 0.541% |
| R1 | 6.18 | 0.407% |
| Price | 6.15 | |
| S1 | 6.15 | -0.0277% |
| S2 | 6.14 | -0.162% |
| S3 | 6.13 | -0.379% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.21 | 1.00% |
| R2 | 6.19 | 0.691% |
| R1 | 6.16 | 0.163% |
| Price | 6.15 | |
| S1 | 5.95 | -3.25% |
| S2 | 5.85 | -4.88% |
| S3 | 5.77 | -6.18% |
FAQ
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