Fidelity Covington Trust - Enhanced 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
Red day on Wednesday for Fidelity Covington Trust - Enhanced
(Updated on Jun 26, 2024)
The Fidelity Covington Trust - Enhanced ETF price fell by -0.244% on the last day (Wednesday, 26th Jun 2024) from $28.69 to $28.62. During the last trading day the ETF fluctuated 0.632% from a day low at $28.49 to a day high of $28.67. The price has fallen in 6 of the last 10 days and is down by -0.45% for this period. Volume has increased on the last day by 3 thousand 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, 25 thousand shares were bought and sold for approximately $713.96 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Fidelity Covington Trust - Enhanced ETF with a 90% probability to be traded between $27.64 and $29.91 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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FESM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.88%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fidelity Covington Trust - Enhanced ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $28.65 and $29.11. A break-up above any of these levels will issue buy signals. Fidelity Covington Trust - Enhanced 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".
Support, Risk & Stop-loss for Fidelity Covington Trust - Enhanced ETF
Fidelity Covington Trust - Enhanced finds support from accumulated volume at $28.61 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 $0.180 between high and low, or 0.632%. For the last week the ETF has had daily average volatility of 0.87%.
Our recommended stop-loss: $27.16 (-5.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (FESM) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Fidelity Covington Trust - Enhanced Small Cap Etf to open at $28.59, and during the day (based on 14 day Average True Range), to move between $28.26 and $28.98, which gives a possible trading interval of +/-$0.364 (+/-1.27%) up or down from last closing price. If Fidelity Covington Trust - Enhanced Small Cap Etf takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.61 (0.02%) than the resistance at $29.09 (1.64%), 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 Covington Trust - Enhanced Small Cap Etf ETF A Buy?
Fidelity Covington Trust - Enhanced 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.
Current score: 0.051 Hold/Accumulate Unchanged
Predicted Opening Price for Fidelity Covington Trust - Enhanced Small Cap Etf of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$28.59 ( 0.0934%) | $28.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FESM
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 28.77 | 0.536% |
R2 | 28.70 | 0.295% |
R1 | 28.66 | 0.147% |
Price | 28.62 | |
S1 | 28.52 | -0.334% |
S2 | 28.48 | -0.482% |
S3 | 28.41 | -0.722% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 29.47 | 2.97% |
R2 | 29.26 | 2.24% |
R1 | 29.09 | 1.64% |
Price | 28.62 | |
S1 | 28.61 | -0.0210% |
S2 | 28.00 | -2.17% |
S3 | 27.53 | -3.81% |
FESM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.0690 | 0.234% |
2 | Dec 27, 2023 | Dec 28, 2023 | Jan 03, 2024 | $0.0180 | 0.0662% |
FAQ
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