Legal & General Ucits Etf Plc - L&g ETF Forecast
Legal & General Ucits Etf Plc - L&g ETF upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Legal & General Ucits Etf Plc - L&g ETF price fell by -0.301% on the last day (Wednesday, 26th Jun 2024) from £356.83 to £355.75. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.20% from a day low at £355.30 to a day high of £359.55. The price has fallen in 8 of the last 10 days and is down by -7.19% 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 -3 thousand shares and in total, 3 thousand shares were bought and sold for approximately £1.03 million.
Given the current short-term trend, the ETF is expected to rise 2.73% during the next 3 months and, with a 90% probability hold a price between £365.47 and £417.40 at the end of this 3-month period.
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HTWG.L Signals & Forecast
There are few to no technical positive signals at the moment. The Legal & General Ucits Etf Plc - L&g 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 £359.67 and £378.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -11.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Tuesday, January 30, 2024 in the long-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 12 Months
The ETF had a Golden Star Signal on Tuesday, January 30, 2024 in the long-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.
Support, Risk & Stop-loss for Legal & General Ucits Etf Plc - L&g ETF
Legal & General Ucits Etf Plc - L&g finds support from accumulated volume at £350.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved £4.25 between high and low, or 1.20%. For the last week the ETF has had daily average volatility of 1.11%.
Legal & General Ucits Etf Plc - L&g is oversold on RSI14 (17). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: £332.06 (-6.66%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (HTWG.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Legal & General Ucits Etf Plc - L&g Hydrogen Economy Ucits Etf to open at £356.87, and during the day (based on 14 day Average True Range), to move between £348.60 and £362.90, which gives a possible trading interval of +/-£7.15 (+/-2.01%) up or down from last closing price. If Legal & General Ucits Etf Plc - L&g Hydrogen Economy Ucits Etf takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £358.88 (0.88%) than the support at £350.35 (1.52%), 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 Legal & General Ucits Etf Plc - L&g Hydrogen Economy Ucits Etf ETF A Buy?
Legal & General Ucits Etf Plc - L&g holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.657 Hold/Accumulate Upgraded
Predicted Opening Price for Legal & General Ucits Etf Plc - L&g Hydrogen Economy Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £356.87 ( 0.314%) | £355.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTWG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 361.12 | 1.51% |
| R2 | 359.49 | 1.05% |
| R1 | 358.49 | 0.770% |
| Price | 355.75 | |
| S1 | 355.24 | -0.143% |
| S2 | 354.24 | -0.425% |
| S3 | 352.62 | -0.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 402.95 | 13.27% |
| R2 | 380.40 | 6.93% |
| R1 | 358.88 | 0.88% |
| Price | 355.75 | |
| S1 | 350.35 | -1.52% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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