Horizons Global Uranium Index ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Horizons Global Uranium Index ETF price after Wednesday trading.
(Updated on May 01, 2024)
The Horizons Global Uranium Index ETF price gained 2.77% on the last trading day (Wednesday, 1st May 2024), rising from $37.90 to $38.95. During the last trading day the ETF fluctuated 1.49% from a day low at $38.95 to a day high of $39.53. The price has risen in 6 of the last 10 days and is up by 3.95% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 1 thousand shares were bought and sold for approximately $57.65 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETFis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $40.10 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Horizons Global Uranium Index ETF with a 90% probability to be traded between $34.59 and $40.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HURA.TO Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -2.48%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Horizons Global Uranium Index 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 $37.98 and $37.40. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Horizons Global Uranium Index ETF
Horizons Global Uranium Index finds support from accumulated volume at $37.74 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.580 between high and low, or 1.49%. For the last week the ETF has had daily average volatility of 1.50%.
Our recommended stop-loss: $37.54 (-3.62%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (HURA.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Horizons Global Uranium Index ETF to open at $39.14, and during the day (based on 14 day Average True Range), to move between $38.17 and $39.73, which gives a possible trading interval of +/-$0.782 (+/-2.01%) up or down from last closing price. If Horizons Global Uranium Index 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 $39.10 (0.39%) than the support at $37.74 (3.11%), 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 Horizons Global Uranium Index ETF ETF A Buy?
Horizons Global Uranium Index 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: -0.120 Hold/Accumulate Upgraded
Predicted Opening Price for Horizons Global Uranium Index ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $39.14 ( 0.496%) | $38.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HURA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.72 | 1.99 % | |
| R2 | 39.50 | 1.42 % | ||
| R1 | 39.36 | 1.07 % | ||
| Current price: | 38.95 | |||
| Support | S1 | 38.92 | -0.0725 % | |
| S2 | 38.78 | -0.424 % | ||
| S3 | 38.56 | -0.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.57 | 4.16 % | |
| R2 | 39.11 | 0.411 % | ||
| R1 | 39.10 | 0.385 % | ||
| Current price | 38.95 | |||
| Support | S1 | 37.74 | -3.11% | |
| S2 | 35.70 | -8.34% | ||
| S3 | 35.30 | -9.37% |
HURA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.358 | 1.03% |
| 2 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.319 | 1.47% |
| 3 | Dec 30, 2021 | Dec 30, 2021 | Dec 30, 2021 | $0.293 | 1.28% |
| 4 | Dec 30, 2020 | Dec 30, 2020 | Dec 30, 2020 | $0.0870 | 0.633% |
| 5 | Dec 30, 2019 | Dec 30, 2019 | Dec 30, 2019 | $0.0680 | 0.81% |
FAQ
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