Betashares Global Agriculture Companies ETF Forecast

Betashares Global Agriculture Companies ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)

FOOD.AX Signals & Forecast

There are mixed signals in the ETF today. The Betashares Global Agriculture Companies 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 $6.87. On a fall, the ETF will find some support from the short-term average at $6.61. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.608%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Betashares Global Agriculture Companies ETF

Betashares Global Agriculture Companies finds support from accumulated volume at $6.61 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.0200 between high and low, or 0.302%. For the last week the ETF has had daily average volatility of 0.546%.

Our recommended stop-loss: $6.24 (-5.75%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (FOOD.AX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Betashares Global Agriculture Companies Etf - Currency Hedged to open at $6.63, and during the day (based on 14 day Average True Range), to move between $6.56 and $6.68, which gives a possible trading interval of +/-$0.0625 (+/-0.94%) up or down from last closing price. If Betashares Global Agriculture Companies Etf - Currency Hedged takes out the full calculated possible swing range there will be an estimated 1.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.61 (0.15%) than the resistance at $6.86 (3.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Betashares Global Agriculture Companies Etf - Currency Hedged ETF A Buy?

Betashares Global Agriculture Companies 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.065 Hold/Accumulate Upgraded

Predicted Opening Price for Betashares Global Agriculture Companies Etf - Currency Hedged of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.