BetaShares Global Energy Companies - ETF Forecast
Green day on Friday for BetaShares Global Energy Companies - ETF after gaining 1.08%
(Updated on Jun 21, 2024)
The BetaShares Global Energy Companies - ETF price gained 1.08% on the last trading day (Friday, 21st Jun 2024), rising from A$6.46 to A$6.53. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.614% from a day low at A$6.51 to a day high of A$6.55. The price has risen in 6 of the last 10 days but is still down by -0.15% for this period. Volume fell on the last day by -35 thousand shares and in total, 46 thousand shares were bought and sold for approximately A$300.39 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -5.55% during the next 3 months and, with a 90% probability hold a price between A$6.00 and A$6.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FUEL.AX Signals & Forecast
There are mixed signals in the ETF today. The BetaShares Global Energy 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 A$6.66. On a fall, the ETF will find some support from the short-term average at A$6.45. 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 also not. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.35%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for BetaShares Global Energy Companies - ETF
BetaShares Global Energy Companies - finds support from accumulated volume at A$6.52 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 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 A$0.0400 between high and low, or 0.614%. For the last week the ETF has had daily average volatility of 0.718%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FUEL.AX) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect BetaShares Global Energy Companies ETF - Currency Hedged to open at A$6.53, and during the day (based on 14 day Average True Range), to move between A$6.46 and A$6.60, which gives a possible trading interval of +/-A$0.0724 (+/-1.11%) up or down from last closing price. If BetaShares Global Energy Companies ETF - Currency Hedged takes out the full calculated possible swing range there will be an estimated 2.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$6.52 (0.15%) than the resistance at A$6.71 (2.76%), 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 Energy Companies ETF - Currency Hedged ETF A Buy?
BetaShares Global Energy Companies - holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.760 Sell Candidate Unchanged
Predicted Opening Price for BetaShares Global Energy Companies ETF - Currency Hedged of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| A$6.53 ( 0%) | A$6.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUEL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.57 | 0.613% |
| R2 | 6.55 | 0.379% |
| R1 | 6.55 | 0.234% |
| Price | 6.53 | |
| S1 | 6.51 | -0.234% |
| S2 | 6.51 | -0.379% |
| S3 | 6.49 | -0.613% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.91 | 5.82% |
| R2 | 6.86 | 5.05% |
| R1 | 6.71 | 2.76% |
| Price | 6.53 | |
| S1 | 6.52 | -0.153% |
| S2 | 6.45 | -1.23% |
| S3 | 6.38 | -2.30% |
FUEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | A$0.123 | 1.97% |
| 2 | Jan 03, 2023 | Jan 03, 2023 | Jan 03, 2023 | A$0.189 | 3.01% |
| 3 | Jan 04, 2022 | Jan 04, 2022 | Jan 04, 2022 | A$0.0994 | 2.12% |
| 4 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | A$0.133 | 2.94% |
| 5 | Jan 04, 2021 | Jan 04, 2021 | Jan 04, 2021 | A$0.0568 | 1.54% |
FAQ
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