Franklin Intelligent Machines ETF Forecast
Weaker technical forecast for Franklin Intelligent Machines as ETF downgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The Franklin Intelligent Machines ETF price fell by -0.476% on the last day (Wednesday, 8th May 2024) from $57.66 to $57.39. During the last trading day the ETF fluctuated 0.382% from a day low at $57.17 to a day high of $57.39. The price has risen in 7 of the last 10 days and is up by 4.84% over the past 2 weeks. Volume has increased on the last day by 6 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, 7 thousand shares were bought and sold for approximately $396.79 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Franklin Intelligent Machines ETF with a 90% probability to be traded between $52.53 and $59.32 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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IQM Signals & Forecast
The Franklin Intelligent Machines ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $56.61 and $56.79. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.476%. Further fall is indicated until a new bottom pivot has been found. Franklin Intelligent Machines 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 Franklin Intelligent Machines ETF
Franklin Intelligent Machines finds support from accumulated volume at $57.12 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.218 between high and low, or 0.382%. For the last week, the ETF has had daily average volatility of 0.723%.
Our recommended stop-loss: $55.75 (-2.86%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IQM) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Franklin Intelligent Machines ETF to open at $57.32, and during the day (based on 14 day Average True Range), to move between $56.49 and $58.29, which gives a possible trading interval of +/-$0.90 (+/-1.57%) up or down from last closing price. If Franklin Intelligent Machines ETF takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.12 (0.47%) than the resistance at $58.26 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Franklin Intelligent Machines ETF ETF A Buy?
Franklin Intelligent Machines 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. 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 Hold/Accumulate candidate.
Current score: -0.375 Hold/Accumulate Downgraded
Predicted Opening Price for Franklin Intelligent Machines ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $57.32 ( 0.127%) | $57.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IQM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.54 | 0.254 % | |
| R2 | 57.45 | 0.108 % | ||
| R1 | 57.40 | 0.0185 % | ||
| Current price: | 57.39 | |||
| Support | S1 | 57.23 | -0.272 % | |
| S2 | 57.18 | -0.362 % | ||
| S3 | 57.10 | -0.507 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.67 | 3.98 % | |
| R2 | 58.74 | 2.35 % | ||
| R1 | 58.26 | 1.52 % | ||
| Current price | 57.39 | |||
| Support | S1 | 57.12 | -0.470% | |
| S2 | 56.37 | -1.78% | ||
| S3 | 54.40 | -5.21% |
IQM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 10, 2021 | Dec 13, 2021 | Dec 21, 2021 | $0.0940 | 0.179% |
| 2 | Dec 11, 2020 | Dec 14, 2020 | Dec 23, 2020 | $0.0040 | 0.0093% |
FAQ
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