Gabelli Financial Services Opportunities ETF Forecast
Gabelli Financial Services Opportunities ETF price ended at $38.35 on Friday, after gaining 0.95%.
(Updated on Jun 28, 2024)
The Gabelli Financial Services Opportunities ETF price gained 0.95% on the last trading day (Friday, 28th Jun 2024), rising from $37.99 to $38.35. During the last trading day the ETF fluctuated 0.339% from a day low at $38.35 to a day high of $38.48. The price has risen in 6 of the last 10 days and is up by 1.27% 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, 1 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $129.93 thousand.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.98% during the next 3 months and, with a 90% probability hold a price between $38.75 and $41.26 at the end of this 3-month period.
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GABF Signals & Forecast
The Gabelli Financial Services Opportunities ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $38.00 and $37.76. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Gabelli Financial Services Opportunities has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.544%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Gabelli Financial Services Opportunities ETF
Gabelli Financial Services Opportunities finds support from accumulated volume at $38.29 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 $0.130 between high and low, or 0.339%. For the last week the ETF has had daily average volatility of 0.179%.
Our recommended stop-loss: $36.80 (-4.05%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (GABF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Gabelli Financial Services Opportunities Etf to open at $38.39, and during the day (based on 14 day Average True Range), to move between $37.96 and $38.74, which gives a possible trading interval of +/-$0.393 (+/-1.02%) up or down from last closing price. If Gabelli Financial Services Opportunities Etf takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.37 (0.05%) than the support at $38.29 (0.16%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gabelli Financial Services Opportunities Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gabelli Financial Services Opportunities ETF to perform well in the short-term.
Current score: 3.433 Buy Candidate Unchanged
Predicted Opening Price for Gabelli Financial Services Opportunities Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $38.39 ( 0.113%) | $38.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GABF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.52 | 0.452% |
| R2 | 38.47 | 0.322% |
| R1 | 38.44 | 0.242% |
| Price | 38.35 | |
| S1 | 38.34 | -0.0167% |
| S2 | 38.31 | -0.0967% |
| S3 | 38.26 | -0.226% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 38.56 | 0.547% |
| R1 | 38.37 | 0.0519% |
| Price | 38.35 | |
| S1 | 38.29 | -0.157% |
| S2 | 37.46 | -2.32% |
| S3 | 35.56 | -7.28% |
FAQ
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