Betashares Global Agriculture Companies 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
Betashares Global Agriculture Companies ETF upgraded to Hold/Accumulate.
(Updated on Jul 04, 2024)
The Betashares Global Agriculture Companies ETF price fell by -0.152% on the last day (Thursday, 4th Jul 2024) from $6.56 to $6.55. During the last trading day the ETF fluctuated 0.459% from a day low at $6.54 to a day high of $6.57. The price has been going up and down for this period, and there has been a -0.61% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -4 thousand shares and in total, 5 thousand shares were bought and sold for approximately $33.58 thousand.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.54 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -5.08% during the next 3 months and, with a 90% probability hold a price between $6.21 and $6.55 at the end of this 3-month period.
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FOOD.AX Signals & Forecast
There are mixed signals in the ETF today. The Betashares Global Agriculture Companies 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 $6.61 and $6.77. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. 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 Tuesday, July 02, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Betashares Global Agriculture Companies ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very 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 $0.0300 between high and low, or 0.459%. For the last week the ETF has had daily average volatility of 1.01%
Our recommended stop-loss: $6.15 (-6.14%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (FOOD.AX) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Betashares Global Agriculture Companies Etf - Currency Hedged to open at $6.55, and during the day (based on 14 day Average True Range), to move between $6.46 and $6.64, which gives a possible trading interval of +/-$0.0867 (+/-1.32%) 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 2.65% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.86, some $0.310 (4.73%) from the current price of $6.55, our system finds the risk reward not very attractive.
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: -0.633 Hold/Accumulate Upgraded
Predicted Opening Price for Betashares Global Agriculture Companies Etf - Currency Hedged of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $6.55 ( 0.0509%) | $6.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FOOD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.58 | 0.509% |
| R2 | 6.57 | 0.334% |
| R1 | 6.56 | 0.226% |
| Price | 6.55 | |
| S1 | 6.54 | -0.124% |
| S2 | 6.53 | -0.232% |
| S3 | 6.52 | -0.407% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.05 | 7.63% |
| R2 | 7.04 | 7.48% |
| R1 | 6.86 | 4.73% |
| Price | 6.55 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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