Income Financial Trust Trust Forecast
Green day on Friday for Income Financial Trust trust after gaining 0.543%
(Updated on Jun 28, 2024)
The Income Financial Trust trust price gained 0.543% on the last trading day (Friday, 28th Jun 2024), rising from $7.36 to $7.40. During the last trading day the trust fluctuated 1.77% from a day low at $7.36 to a day high of $7.49. The price has risen in 6 of the last 10 days and is up by 2.07% over the past 2 weeks. Volume fell on the last day by -900 shares and in total, 2 thousand shares were bought and sold for approximately $11.10 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 trust is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Income Financial Trust trust with a 90% probability to be traded between $6.98 and $7.47 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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INC-UN.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Income Financial Trust trust holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the trust giving a more negative forecast for the stock. On further gains, the trust will meet resistance from the long-term Moving Average at $7.45. On a fall, the trust will find some support from the short-term average at $7.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -1.33%. 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.
Support, Risk & Stop-loss for Income Financial Trust trust
Income Financial Trust finds support from accumulated volume at $7.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved $0.130 between high and low, or 1.77%. For the last week the trust has had daily average volatility of 1.28%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INC-UN.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Income Financial Trust to open at $7.42, and during the day (based on 14 day Average True Range), to move between $7.26 and $7.54, which gives a possible trading interval of +/-$0.138 (+/-1.86%) up or down from last closing price. If Income Financial Trust takes out the full calculated possible swing range there will be an estimated 3.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.36 (0.54%) than the resistance at $7.50 (1.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Income Financial Trust trust A Buy?
Income Financial Trust 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 trust.
Current score: -1.860 Sell Candidate Unchanged
Predicted Opening Price for Income Financial Trust of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $7.42 ( 0.225%) | $7.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INC-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.55 | 1.98% |
| R2 | 7.50 | 1.31% |
| R1 | 7.47 | 0.90% |
| Price | 7.40 | |
| S1 | 7.37 | -0.446% |
| S2 | 7.34 | -0.86% |
| S3 | 7.29 | -1.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.61 | 2.84% |
| R2 | 7.52 | 1.62% |
| R1 | 7.50 | 1.35% |
| Price | 7.40 | |
| S1 | 7.36 | -0.541% |
| S2 | 7.25 | -2.03% |
| S3 | 7.12 | -3.78% |
FAQ
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