Harvest Equal Weight Global Utilities ETF Forecast

Harvest Equal Weight Global Utilities ETF downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

HUTL.TO Signals & Forecast

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. The Harvest Equal Weight Global Utilities 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 $16.46 and $16.65. 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 21, 2024, and so far it has fallen -4.88%. Further fall is indicated until a new bottom pivot has been found. Harvest Equal Weight Global Utilities gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Harvest Equal Weight Global Utilities ETF

Harvest Equal Weight Global Utilities finds support from accumulated volume at $16.26 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 $0.100 between high and low, or 0.615%. For the last week the ETF has had daily average volatility of 0.757%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HUTL.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Harvest Equal Weight Global Utilities Income ETF to open at $16.29, and during the day (based on 14 day Average True Range), to move between $16.11 and $16.44, which gives a possible trading interval of +/-$0.166 (+/-1.02%) up or down from last closing price. If Harvest Equal Weight Global Utilities Income 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 support from accumulated volume at $16.26 (0.09%) than the resistance at $16.37 (0.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Harvest Equal Weight Global Utilities Income ETF ETF A Buy?

The Harvest Equal Weight Global Utilities ETF holds several negative signals and despite the positive trend, we believe Harvest Equal Weight Global Utilities will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.

Current score: -2.031 Sell Candidate Downgraded

Predicted Opening Price for Harvest Equal Weight Global Utilities Income ETF of Tuesday, July 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.