Guggenheim CurrencyShares Canadian ETF Forecast
Guggenheim CurrencyShares Canadian ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Guggenheim CurrencyShares Canadian ETF price gained 0.0727% on the last trading day (Friday, 28th Jun 2024), rising from $71.48 to $71.53. During the last trading day the ETF fluctuated 0.273% from a day low at $71.38 to a day high of $71.58. The price has risen in 7 of the last 10 days and is up by 0.46% 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, 21 thousand more shares were traded than the day before. In total, 39 thousand shares were bought and sold for approximately $2.80 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Guggenheim CurrencyShares Canadian ETF with a 90% probability to be traded between $70.35 and $71.55 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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FXC Signals & Forecast
The Guggenheim CurrencyShares Canadian ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $71.54. On a fall, the ETF will find some support from the long-term average at approximately $71.50. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.633%. 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. The ETF had a Golden Star Signal on Monday, June 17, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Monday, June 17, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 with a target of $71.36. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Guggenheim CurrencyShares Canadian ETF
Guggenheim CurrencyShares Canadian finds support from accumulated volume at $71.51 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.195 between high and low, or 0.273%. For the last week the ETF has had daily average volatility of 0.170%.
Our recommended stop-loss: $67.52 (-5.61%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (FXC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Guggenheim CurrencyShares Canadian Dollar Trust ETF to open at $71.50, and during the day (based on 14 day Average True Range), to move between $71.31 and $71.75, which gives a possible trading interval of +/-$0.220 (+/-0.31%) up or down from last closing price. If Guggenheim CurrencyShares Canadian Dollar Trust ETF takes out the full calculated possible swing range there will be an estimated 0.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $71.51 (0.03%) than the resistance at $71.67 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guggenheim CurrencyShares Canadian Dollar Trust ETF ETF A Buy?
Guggenheim CurrencyShares Canadian 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: 0.766 Hold/Accumulate Upgraded
Predicted Opening Price for Guggenheim CurrencyShares Canadian Dollar Trust ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $71.50 ( 0.0489%) | $71.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FXC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 71.69 | 0.224% |
| R2 | 71.62 | 0.120% |
| R1 | 71.57 | 0.0552% |
| Price | 71.53 | |
| S1 | 71.42 | -0.153% |
| S2 | 71.37 | -0.217% |
| S3 | 71.30 | -0.321% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 72.01 | 0.675% |
| R2 | 71.69 | 0.224% |
| R1 | 71.67 | 0.196% |
| Price | 71.53 | |
| S1 | 71.51 | -0.0280% |
| S2 | 71.48 | -0.0699% |
| S3 | 71.24 | -0.405% |
FXC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 08, 2024 | $0.140 | 0.196% |
| 2 | Feb 19, 2024 | Apr 01, 2024 | Apr 08, 2024 | $0.147 | 0.204% |
| 3 | Feb 19, 2024 | Mar 01, 2024 | Mar 08, 2024 | $0.137 | 0.189% |
| 4 | Jan 31, 2024 | Feb 01, 2024 | Feb 08, 2024 | $0.148 | 0.204% |
| 5 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | $0.150 | 0.205% |
FAQ
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