Guggenheim CurrencyShares Japanese ETF Forecast
Guggenheim CurrencyShares Japanese ETF price ended at $58.64 on Monday, after losing 0.281%.
(Updated on Jun 17, 2024)
The Guggenheim CurrencyShares Japanese ETF price fell by -0.281% on the last day (Monday, 17th Jun 2024) from $58.80 to $58.64. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.145% from a day low at $58.56 to a day high of $58.64. The price has fallen in 6 of the last 10 days and is down by -1.02% for this period. 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 -10 thousand shares and in total, 79 thousand shares were bought and sold for approximately $4.60 million.
The ETF lies in the middle of a narrow and 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 -4.42% during the next 3 months and, with a 90% probability hold a price between $54.61 and $56.57 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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FXY Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guggenheim CurrencyShares Japanese 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 $58.88 and $59.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -3.07%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Guggenheim CurrencyShares Japanese 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0850 between high and low, or 0.145%. For the last week the ETF has had daily average volatility of 0.343%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FXY) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Guggenheim CurrencyShares Japanese to open at $58.61, and during the day (based on 14 day Average True Range), to move between $58.32 and $58.95, which gives a possible trading interval of +/-$0.318 (+/-0.54%) up or down from last closing price. If Guggenheim CurrencyShares Japanese takes out the full calculated possible swing range there will be an estimated 1.09% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $59.36, some $0.725 (1.24%) from the current price of $58.64, our system finds the risk reward not very attractive.
Is Guggenheim CurrencyShares Japanese ETF A Buy?
Guggenheim CurrencyShares Japanese holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.022 Sell Candidate Unchanged
Predicted Opening Price for Guggenheim CurrencyShares Japanese of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $58.61 ( 0.0426%) | $58.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FXY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.70 | 0.102% |
| R2 | 58.66 | 0.0470% |
| R1 | 58.64 | 0.0127% |
| Price | 58.64 | |
| S1 | 58.58 | -0.0980% |
| S2 | 58.56 | -0.132% |
| S3 | 58.53 | -0.188% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.20 | 4.37% |
| R2 | 61.09 | 4.19% |
| R1 | 59.36 | 1.24% |
| Price | 58.64 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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