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BlueStar TA-BIGITech Israel Technology ETF Forecast NASDAQ:ITEQ

$63.95 (3.73%)

Volume: 19k

Closed: Dec 07, 2021

Hollow Logo Score: -0.432

BlueStar TA-BIGITech Israel Technology ETF Forecast

$63.95 (3.73%)

Volume: 19k

Closed: Dec 07, 2021

Score Hollow Logo -0.432
Which way will ITEQ go? Request
Stop-loss: $61.29 (-4.16%)
Key Stats
Beta 1.22
Trailing Dividend Rate 0.71% ($0.44)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 27 and the ETF is currently not being overbought or oversold

BlueStar TA-BIGITech Israel Technology ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Dec 07, 2021)


Hold candidate since 2021-12-07

The BlueStar TA-BIGITech Israel Technology ETF price gained 3.73% on the last trading day (Tuesday, 7th Dec 2021), rising from $61.65 to $63.95. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the ETF fluctuated 2.20% from a day low at $63.04 to a day high of $64.43. The price has been going up and down for this period, and there has been a -4.19% loss for the last 2 weeks. Volume fell on the last day by -18 shares and in total, 19 thousand shares were bought and sold for approximately $1.24 million. 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 lies in the middle of a wide and 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 -2.33% during the next 3 months and, with a 90% probability hold a price between $59.43 and $70.02 at the end of this 3-month period.

Signals & Forecast

There are mixed signals in the ETF today. The BlueStar TA-BIGITech Israel Technology ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term moving average at $68.34. On a fall, the ETF will find some support from the short-term average at $63.03. 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. 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 also not. A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 5.01%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss

BlueStar TA-BIGITech Israel Technology finds support from accumulated volume at $62.56 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 $1.39 between high and low, or 2.20%. For the last week the ETF has had a daily average volatility of 3.36%.

Our recommended stop-loss: $61.29 (-4.16%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Is BlueStar TA-BIGITech Israel Technology ETF ETF A Buy?

BlueStar TA-BIGITech Israel Technology 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.432

Predicted Opening Price for BlueStar TA-BIGITech Israel Technology ETF of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$63.81 $63.95 (Overvalued)
Hold/Accumulate Upgraded

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Volatility and Risk
Daily Average Volatility: 3.36 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.36 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $65.93
Price: $63.95
Support: $62.56

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 65.20 1.95 %
64.67 1.12 %
64.34 0.61 %
Current price: 63.95
Support 63.28 -1.05 %
62.95 -1.57 %
62.42 -2.40 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 71.03 11.07 %
69.96 9.40 %
65.93 3.10 %
Current price 63.95
Support 62.56 -2.17%
61.65 -3.60%
60.90 -4.77%

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About BlueStar TA-BIGITech Israel Technology ETF

The investment seeks to provide investment results that correspond generally to the total return performance of the TASE-BlueStar Israel Global Technology Index™ ("TA-BIGITech™"). The fund will invest at least 80% of its total assets in the component securities of the index and in depositary receipts representing such securities. As a result, normally the fund will invest at least 80% of its total assets in Israeli technology companies. TA-B... Read more

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