Tidal Trust Ii ETF Forecast
Tidal Trust Ii ETF upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Tidal Trust Ii ETF price gained 0.307% on the last trading day (Tuesday, 25th Jun 2024), rising from $16.30 to $16.35. During the last trading day the ETF fluctuated 0.491% from a day low at $16.29 to a day high of $16.37. The price has risen in 8 of the last 10 days and is up by 2.06% over the past 2 weeks. Volume fell on the last day by -96 thousand shares and in total, 86 thousand shares were bought and sold for approximately $1.41 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 the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $16.60 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -5.94% during the next 3 months and, with a 90% probability hold a price between $14.29 and $15.62 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JEPY Signals & Forecast
The Tidal Trust Ii ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.31 and $16.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.35%. 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 Tidal Trust Ii ETF
Tidal Trust Ii finds support from accumulated volume at $16.33 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 $0.0800 between high and low, or 0.491%. For the last week the ETF has had daily average volatility of 0.437%
The Tidal Trust Ii ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.
Our recommended stop-loss: $15.80 (-3.39%) (This ETF has low daily movements and this gives low risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (JEPY) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Tidal Trust Ii to open at $16.34, and during the day (based on 14 day Average True Range), to move between $16.25 and $16.45, which gives a possible trading interval of +/-$0.105 (+/-0.64%) up or down from last closing price. If Tidal Trust Ii takes out the full calculated possible swing range there will be an estimated 1.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.33 (0.12%) than the resistance at $16.39 (0.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tidal Trust Ii ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.046 Buy Candidate Upgraded
Predicted Opening Price for Tidal Trust Ii of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $16.34 ( 0.0815%) | $16.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JEPY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.42 | 0.408% |
| R2 | 16.39 | 0.221% |
| R1 | 16.37 | 0.105% |
| Price | 16.35 | |
| S1 | 16.31 | -0.268% |
| S2 | 16.29 | -0.384% |
| S3 | 16.26 | -0.571% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.95 | 3.67% |
| R2 | 16.62 | 1.65% |
| R1 | 16.39 | 0.245% |
| Price | 16.35 | |
| S1 | 16.33 | -0.122% |
| S2 | 16.08 | -1.65% |
| S3 | 16.02 | -2.02% |
FAQ
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