L&g Clean Water Ucits Etf ETF Forecast
L&g Clean Water Ucits Etf ETF upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The L&g Clean Water Ucits Etf ETF price fell by -0.283% on the last day (Wednesday, 26th Jun 2024) from £1,379.30 to £1,375.40. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.87% from a day low at £1,371.80 to a day high of £1,383.80. The price has fallen in 7 of the last 10 days but is still up by 0.01% over the past 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 -15 thousand shares and in total, 30 thousand shares were bought and sold for approximately £41.03 million.
The ETF has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately £1,380.01 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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GLGG.L Signals & Forecast
There are mixed signals in the ETF today. The L&g Clean Water Ucits Etf 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 £1,386.11 and £1,419.15. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.0145%. 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 L&g Clean Water Ucits Etf ETF
L&g Clean Water Ucits Etf finds support from accumulated volume at £1,375.20 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 £12.00 between high and low, or 0.87%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: £1,291.54 (-6.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (GLGG.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect L&g Clean Water Ucits Etf to open at £1,377.00, and during the day (based on 14 day Average True Range), to move between £1,360.06 and £1,390.74, which gives a possible trading interval of +/-£15.34 (+/-1.12%) up or down from last closing price. If L&g Clean Water Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,375.20 (0.01%) than the resistance at £1,392.40 (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is L&g Clean Water Ucits Etf ETF A Buy?
L&g Clean Water Ucits Etf 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: -0.628 Hold/Accumulate Upgraded
Predicted Opening Price for L&g Clean Water Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £1,377.00 ( 0.116%) | £1,375.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLGG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,389.00 | 0.99% |
| R2 | 1,384.42 | 0.656% |
| R1 | 1,381.58 | 0.450% |
| Price | 1,375.40 | |
| S1 | 1,372.42 | -0.217% |
| S2 | 1,369.58 | -0.423% |
| S3 | 1,365.00 | -0.756% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,475.10 | 7.25% |
| R2 | 1,404.50 | 2.12% |
| R1 | 1,392.40 | 1.24% |
| Price | 1,375.40 | |
| S1 | 1,375.20 | -0.0145% |
| S2 | 1,364.40 | -0.80% |
| S3 | 1,360.00 | -1.12% |
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