Horizons Europe 50 Index Etf ETF Forecast
Horizons Europe 50 Index Etf ETF price ended at $50.48 on Wednesday, after losing 0.512%.
(Updated on Jun 26, 2024)
The Horizons Europe 50 Index Etf ETF price fell by -0.512% on the last day (Wednesday, 26th Jun 2024) from $50.74 to $50.48. During the last trading day the ETF fluctuated 0.458% from a day low at $50.25 to a day high of $50.48. The price has been going up and down for this period, and there has been a -3.44% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $136.40 thousand.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.75% during the next 3 months and, with a 90% probability hold a price between $47.25 and $49.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HXX.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Horizons Europe 50 Index 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 $50.58 and $51.45. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Horizons Europe 50 Index Etf 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 Horizons Europe 50 Index Etf ETF
Horizons Europe 50 Index Etf finds support from accumulated volume at $50.36 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 $0.230 between high and low, or 0.458%. For the last week the ETF has had daily average volatility of 0.468%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HXX.TO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Horizons Europe 50 Index Etf to open at $50.40, and during the day (based on 14 day Average True Range), to move between $49.94 and $51.02, which gives a possible trading interval of +/-$0.536 (+/-1.06%) up or down from last closing price. If Horizons Europe 50 Index Etf takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.49 (0.02%) than the support at $50.36 (0.24%), 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 Europe 50 Index Etf ETF A Buy?
Horizons Europe 50 Index Etf holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -1.725 Sell Candidate Unchanged
Predicted Opening Price for Horizons Europe 50 Index Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $50.40 ( 0.152%) | $50.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HXX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.63 | 0.304% |
| R2 | 50.55 | 0.130% |
| R1 | 50.49 | 0.0222% |
| Price | 50.48 | |
| S1 | 50.32 | -0.326% |
| S2 | 50.26 | -0.433% |
| S3 | 50.17 | -0.608% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.73 | 0.495% |
| R2 | 50.71 | 0.456% |
| R1 | 50.49 | 0.0198% |
| Price | 50.48 | |
| S1 | 50.36 | -0.238% |
| S2 | 50.35 | -0.258% |
| S3 | 49.76 | -1.43% |
FAQ
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