BlueStar TA-BIGITech Israel Technology ETF Forecast
BlueStar TA-BIGITech Israel Technology ETF downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jul 03, 2024)
The BlueStar TA-BIGITech Israel Technology ETF price gained 0.397% on the last trading day (Wednesday, 3rd Jul 2024), rising from $45.57 to $45.75. During the last trading day the ETF fluctuated 0.478% from a day low at $45.63 to a day high of $45.85. The price has risen in 7 of the last 10 days and is up by 2.23% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 3 thousand shares were bought and sold for approximately $152.66 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 moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BlueStar TA-BIGITech Israel Technology ETF with a 90% probability to be traded between $43.21 and $46.69 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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ITEQ Signals & Forecast
The BlueStar TA-BIGITech Israel Technology 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 $45.28 and $45.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 3.85%. Further rise is indicated until a new top pivot has been found. 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. 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.
Support, Risk & Stop-loss for BlueStar TA-BIGITech Israel Technology ETF
BlueStar TA-BIGITech Israel Technology finds support from accumulated volume at $45.35 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 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 ETF During the last day, the ETF moved $0.218 between high and low, or 0.478%. For the last week the ETF has had daily average volatility of 0.89%
Our recommended stop-loss: $43.51 (-4.88%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (ITEQ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect BlueStar TA-BIGITech Israel Technology ETF to open at $45.74, and during the day (based on 14 day Average True Range), to move between $45.28 and $46.21, which gives a possible trading interval of +/-$0.464 (+/-1.01%) up or down from last closing price. If BlueStar TA-BIGITech Israel Technology ETF takes out the full calculated possible swing range there will be an estimated 2.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.96 (0.46%) than the support at $45.35 (0.87%), 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 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. 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: -0.385 Hold/Accumulate Downgraded
Predicted Opening Price for BlueStar TA-BIGITech Israel Technology ETF of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $45.74 ( 0.0129%) | $45.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITEQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.96 | 0.464% |
| R2 | 45.88 | 0.282% |
| R1 | 45.83 | 0.169% |
| Price | 45.75 | |
| S1 | 45.66 | -0.195% |
| S2 | 45.61 | -0.308% |
| S3 | 45.52 | -0.490% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.83 | 2.37% |
| R2 | 46.59 | 1.84% |
| R1 | 45.96 | 0.463% |
| Price | 45.75 | |
| S1 | 45.35 | -0.87% |
| S2 | 45.25 | -1.09% |
| S3 | 45.07 | -1.48% |
ITEQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2021 | Mar 23, 2021 | Mar 25, 2021 | $0.0500 | 0.0779% |
| 2 | Dec 11, 2020 | Dec 14, 2020 | Dec 16, 2020 | $0.390 | 0.602% |
| 3 | Sep 19, 2019 | Sep 20, 2019 | Sep 24, 2019 | $0.0100 | 0.0248% |
| 4 | Dec 21, 2018 | Dec 24, 2018 | Dec 27, 2018 | $0.0920 | 0.298% |
| 5 | Dec 22, 2017 | Dec 26, 2017 | Dec 28, 2017 | $0.172 | 0.542% |
FAQ
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