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
Stronger technical forecast for MicroSectors FANG+ ETN ETF price after Friday trading.
(Updated on May 03, 2024)
The MicroSectors FANG+ ETN ETF price gained 1.84% on the last trading day (Friday, 3rd May 2024), rising from $42.64 to $43.43. During the last trading day the ETF fluctuated 0.89% from a day low at $43.10 to a day high of $43.49. The price has risen in 7 of the last 10 days and is up by 8.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 thousand more shares were traded than the day before. In total, 172 thousand shares were bought and sold for approximately $7.46 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MicroSectors FANG+ ETN ETF with a 90% probability to be traded between $40.17 and $44.67 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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FNGS Signals & Forecast
The MicroSectors FANG+ ETN ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $42.49 and $42.80. 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 8.21%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MicroSectors FANG+ ETN ETF
MicroSectors FANG+ ETN finds support from accumulated volume at $42.71 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 $0.385 between high and low, or 0.89%. For the last week, the ETF has had daily average volatility of 1.81%.
Our recommended stop-loss: $41.57 (-4.28%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (FNGS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect MicroSectors FANG+ ETN to open at $43.34, and during the day (based on 14 day Average True Range), to move between $42.51 and $44.34, which gives a possible trading interval of +/-$0.91 (+/-2.10%) up or down from last closing price. If MicroSectors FANG+ ETN takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.47 (0.10%) than the support at $42.71 (1.65%), 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 MicroSectors FANG+ ETN ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for MicroSectors FANG+ ETN ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.204 Buy Candidate Upgraded
Predicted Opening Price for MicroSectors FANG+ ETN of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $43.34 ( 0.203%) | $43.43 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 43.72 | 0.683 % | |
| R2 | 43.57 | 0.344 % | ||
| R1 | 43.48 | 0.135 % | ||
| Current price: | 43.43 | |||
| Support | S1 | 43.19 | -0.542 % | |
| S2 | 43.10 | -0.751 % | ||
| S3 | 42.95 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.62 | 0.449 % | |
| R2 | 43.61 | 0.426 % | ||
| R1 | 43.47 | 0.104 % | ||
| Current price | 43.43 | |||
| Support | S1 | 42.71 | -1.65% | |
| S2 | 41.84 | -3.65% | ||
| S3 | 41.58 | -4.25% |
FAQ
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