J.p. Morgan Exchange-traded Fun ETF Forecast
J.p. Morgan Exchange-traded Fun ETF price ended at $58.56 on Friday, after losing 0.0341%.
(Updated on Jun 28, 2024)
The J.p. Morgan Exchange-traded Fun ETF price fell by -0.0341% on the last day (Friday, 28th Jun 2024) from $58.58 to $58.56. During the last trading day the ETF fluctuated 0.744% from a day low at $58.47 to a day high of $58.91. The price has been going up and down for this period, and there has been a 0.48% gain for the last 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 -67 thousand shares and in total, 129 thousand shares were bought and sold for approximately $7.57 million.
The ETF lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $58.74 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 7.04% during the next 3 months and, with a 90% probability hold a price between $61.36 and $62.88 at the end of this 3-month period.
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HELO Signals & Forecast
The J.p. Morgan Exchange-traded Fun 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 $58.48 and $57.58. 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). 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 Wednesday, June 26, 2024, and so far it has fallen -0.102%. 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 J.p. Morgan Exchange-traded Fun ETF
J.p. Morgan Exchange-traded Fun finds support from accumulated volume at $56.53 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 $0.435 between high and low, or 0.744%. For the last week the ETF has had daily average volatility of 0.464%.
The J.p. Morgan Exchange-traded Fun ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.
Our recommended stop-loss: $56.59 (-3.36%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (HELO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect J.p. Morgan Exchange-traded Fun to open at $58.65, and during the day (based on 14 day Average True Range), to move between $58.23 and $58.89, which gives a possible trading interval of +/-$0.326 (+/-0.56%) up or down from last closing price. If J.p. Morgan Exchange-traded Fun takes out the full calculated possible swing range there will be an estimated 1.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.58 (0.03%) than the support at $56.53 (3.47%), 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 J.p. Morgan Exchange-traded Fun 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 J.p. Morgan Exchange-traded Fun ETF to perform well in the short-term.
Current score: 3.098 Buy Candidate Unchanged
Predicted Opening Price for J.p. Morgan Exchange-traded Fun of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $58.65 ( 0.151%) | $58.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HELO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.08 | 0.89% |
| R2 | 58.92 | 0.610% |
| R1 | 58.81 | 0.435% |
| Price | 58.56 | |
| S1 | 58.48 | -0.133% |
| S2 | 58.38 | -0.309% |
| S3 | 58.21 | -0.592% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 58.62 | 0.102% |
| R1 | 58.58 | 0.0342% |
| Price | 58.56 | |
| S1 | 56.53 | -3.47% |
| S2 | 55.76 | -4.78% |
| S3 | 55.12 | -5.87% |
FAQ
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