RENAISSANCE INTERNATIONAL IPO ETF Forecast
RENAISSANCE INTERNATIONAL IPO ETF upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)
The RENAISSANCE INTERNATIONAL IPO ETF price gained 0.138% on the last trading day (Tuesday, 18th Jun 2024), rising from $13.17 to $13.19. During the last trading day the ETF fluctuated 0.90% from a day low at $13.07 to a day high of $13.19. The price has fallen in 7 of the last 10 days and is down by -6.27% for this period. Volume fell on the last day by -361 shares and in total, 2 thousand shares were bought and sold for approximately $26.32 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 ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.17 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect RENAISSANCE INTERNATIONAL IPO ETF with a 90% probability to be traded between $13.35 and $15.10 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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IPOS Signals & Forecast
The RENAISSANCE INTERNATIONAL IPO 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 $13.44 and $14.16. 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). 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.138%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for RENAISSANCE INTERNATIONAL IPO ETF
RENAISSANCE INTERNATIONAL IPO finds support from accumulated volume at $13.17 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 $0.117 between high and low, or 0.90%. For the last week the ETF has had daily average volatility of 0.678%.
RENAISSANCE INTERNATIONAL IPO is oversold on RSI14 (21). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $12.39 (-6.08%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (IPOS) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect RENAISSANCE INTERNATIONAL IPO ETF to open at $13.15, and during the day (based on 14 day Average True Range), to move between $13.00 and $13.37, which gives a possible trading interval of +/-$0.186 (+/-1.41%) up or down from last closing price. If RENAISSANCE INTERNATIONAL IPO ETF takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.17 (0.14%) than the resistance at $14.12 (7.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RENAISSANCE INTERNATIONAL IPO ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.111 Buy Candidate Upgraded
Predicted Opening Price for RENAISSANCE INTERNATIONAL IPO ETF of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
$13.15 ( 0.296%) | $13.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IPOS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 13.27 | 0.593% |
R2 | 13.22 | 0.253% |
R1 | 13.19 | 0.0433% |
Price | 13.19 | |
S1 | 13.10 | -0.636% |
S2 | 13.08 | -0.85% |
S3 | 13.03 | -1.19% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.78 | 12.08% |
R2 | 14.66 | 11.17% |
R1 | 14.12 | 7.07% |
Price | 13.19 | |
S1 | 13.17 | -0.138% |
S2 | 0 | - |
S3 | 0 | - |
IPOS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 10, 2023 | Sep 15, 2023 | Sep 22, 2023 | $0.0290 | 0.208% |
2 | Mar 10, 2023 | Jun 16, 2023 | Jun 23, 2023 | $0.0170 | 0.115% |
3 | Dec 17, 2020 | Dec 18, 2020 | Dec 28, 2020 | $0.0690 | 0.191% |
4 | Feb 19, 2020 | Jun 19, 2020 | Jun 26, 2020 | $0.0240 | 0.0842% |
5 | Jan 08, 2019 | Dec 13, 2019 | Dec 20, 2019 | $0.0300 | 0.125% |
FAQ
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