REX FANG & Innovation Equity Premium ETF Forecast
Green day on Friday for REX FANG & Innovation Equity Premium
(Updated on May 10, 2024)
The REX FANG & Innovation Equity Premium ETF price gained 0.317% on the last trading day (Friday, 10th May 2024), rising from $53.71 to $53.88. During the last trading day the ETF fluctuated 1.01% from a day low at $53.70 to a day high of $54.24. The price has been going up and down for this period, and there has been a 2.77% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 75 thousand shares were bought and sold for approximately $4.04 million.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $54.38 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -7.47% during the next 3 months and, with a 90% probability hold a price between $47.09 and $50.32 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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FEPI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 4.85%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The REX FANG & Innovation Equity Premium ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $53.96. On a fall, the ETF will find some support from the short-term average at $53.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for REX FANG & Innovation Equity Premium ETF
REX FANG & Innovation Equity Premium finds support from accumulated volume at $52.03 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 $0.540 (1.01%) between high and low. For the last week, the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: $51.53 (-4.36%) (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 (FEPI) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect REX FANG & Innovation Equity Premium Income ETF to open at $53.94, and during the day (based on 14 day Average True Range), to move between $53.12 and $54.64, which gives a possible trading interval of +/-$0.764 (+/-1.42%) up or down from last closing price. If REX FANG & Innovation Equity Premium Income ETF takes out the full calculated possible swing range there will be an estimated 2.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.90 (1.89%) than the support at $52.03 (3.43%), 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 REX FANG & Innovation Equity Premium Income ETF ETF A Buy?
REX FANG & Innovation Equity Premium 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.
Current score: -0.339 Hold/Accumulate Unchanged
Predicted Opening Price for REX FANG & Innovation Equity Premium Income ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $53.94 ( 0.111%) | $53.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEPI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.48 | 1.11 % | |
| R2 | 54.27 | 0.731 % | ||
| R1 | 54.15 | 0.494 % | ||
| Current price: | 53.88 | |||
| Support | S1 | 53.73 | -0.271 % | |
| S2 | 53.61 | -0.508 % | ||
| S3 | 53.40 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.72 | 5.27 % | |
| R2 | 55.90 | 3.75 % | ||
| R1 | 54.90 | 1.89 % | ||
| Current price | 53.88 | |||
| Support | S1 | 52.03 | -3.43% | |
| S2 | 51.63 | -4.18% | ||
| S3 | 51.39 | -4.62% |
FEPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 23, 2024 | Apr 25, 2024 | $1.09 | 2.10% |
| 2 | Mar 25, 2024 | Mar 26, 2024 | Mar 28, 2024 | $1.19 | 2.14% |
| 3 | Feb 23, 2024 | Feb 26, 2024 | Feb 28, 2024 | $1.19 | 2.13% |
| 4 | Jan 23, 2024 | Jan 24, 2024 | Jan 26, 2024 | $1.20 | 2.15% |
| 5 | Dec 22, 2023 | Dec 26, 2023 | Dec 28, 2023 | $1.18 | 2.12% |
FAQ
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