MicroSectors FANG+ ETN 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
MicroSectors FANG+ ETN ETF price ended at $50.83 on Tuesday, after gaining 1.42%.
(Updated on Jul 02, 2024)
The MicroSectors FANG+ ETN ETF price gained 1.42% on the last trading day (Tuesday, 2nd Jul 2024), rising from $50.12 to $50.83. During the last trading day the ETF fluctuated 1.70% from a day low at $50.06 to a day high of $50.91. The price has been going up and down for this period, and there has been a 2.73% 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, 67 thousand more shares were traded than the day before. In total, 190 thousand shares were bought and sold for approximately $9.68 million.
The ETF lies in the upper part of a wide and strong rising 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 $51.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 17.40% during the next 3 months and, with a 90% probability hold a price between $54.35 and $60.48 at the end of this 3-month period.
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FNGS Signals & Forecast
Mostly positive signals in the chart today. The MicroSectors FANG+ ETN ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $49.23 and $46.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 26.66%. 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.
Support, Risk & Stop-loss for MicroSectors FANG+ ETN ETF
MicroSectors FANG+ ETN finds support from accumulated volume at $49.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.85 between high and low, or 1.70%. For the last week, the ETF has had daily average volatility of 1.80%.
Our recommended stop-loss: $49.05 (-3.50%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (FNGS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MicroSectors FANG+ ETN to open at $50.60, and during the day (based on 14 day Average True Range), to move between $50.03 and $51.63, which gives a possible trading interval of +/-$0.80 (+/-1.58%) up or down from last closing price. If MicroSectors FANG+ ETN takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $49.48, some $1.35 (2.66%) from the current price of $50.83, our system finds the risk reward attractive.
Is MicroSectors FANG+ ETN ETF A Buy?
MicroSectors FANG+ ETN holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.584 Strong Buy Candidate Unchanged
Predicted Opening Price for MicroSectors FANG+ ETN of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $50.60 ( 0.452%) | $50.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNGS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.45 | 1.22% |
| R2 | 51.13 | 0.581% |
| R1 | 50.92 | 0.186% |
| Price | 50.83 | |
| S1 | 50.28 | -1.09% |
| S2 | 50.07 | -1.49% |
| S3 | 49.75 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 50.83 | |
| S1 | 49.48 | -2.66% |
| S2 | 44.99 | -11.49% |
| S3 | 41.84 | -17.69% |
FAQ
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