JPMorgan U.S. Momentum Factor ETF Forecast
JPMorgan U.S. Momentum Factor ETF price up 0.342% on Monday
(Updated on May 20, 2024)
The JPMorgan U.S. Momentum Factor ETF price gained 0.342% on the last trading day (Monday, 20th May 2024), rising from $52.68 to $52.86. During the last trading day the ETF fluctuated 0.447% from a day low at $52.68 to a day high of $52.92. The price has risen in 7 of the last 10 days and is up by 2.66% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 58 thousand shares were bought and sold for approximately $3.07 million.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $53.00 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect JPMorgan U.S. Momentum Factor ETF with a 90% probability to be traded between $49.93 and $53.36 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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JMOM Signals & Forecast
Mostly positive signals in the chart today. The JPMorgan U.S. Momentum Factor 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 $52.36 and $51.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.85%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for JPMorgan U.S. Momentum Factor ETF
JPMorgan U.S. Momentum Factor finds support from accumulated volume at $50.37 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.235 between high and low, or 0.447%. For the last week the ETF has had daily average volatility of 0.684%.
The JPMorgan U.S. Momentum Factor 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: $51.08 (-3.36%) (This ETF has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (JMOM) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect JPMorgan U.S. Momentum Factor ETF to open at $52.82, and during the day (based on 14 day Average True Range), to move between $52.36 and $53.36, which gives a possible trading interval of +/-$0.495 (+/-0.94%) up or down from last closing price. If JPMorgan U.S. Momentum Factor ETF takes out the full calculated possible swing range there will be an estimated 1.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $50.37, some $2.49 (4.71%) from the current price of $52.86, our system finds the risk reward attractive.
Is JPMorgan U.S. Momentum Factor ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for JPMorgan U.S. Momentum Factor ETF to perform well in the short-term period.
Current score: 3.823 Buy Candidate Unchanged
Predicted Opening Price for JPMorgan U.S. Momentum Factor ETF of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $52.82 ( 0.0728%) | $52.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JMOM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.06 | 0.373 % | |
| R2 | 52.97 | 0.202 % | ||
| R1 | 52.91 | 0.0973 % | ||
| Current price: | 52.86 | |||
| Support | S1 | 52.73 | -0.243 % | |
| S2 | 52.68 | -0.348 % | ||
| S3 | 52.59 | -0.518 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 52.86 | |||
| Support | S1 | 50.37 | -4.71% | |
| S2 | 50.24 | -4.95% | ||
| S3 | 48.98 | -7.34% |
JMOM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2024 | Mar 19, 2024 | Mar 22, 2024 | $0.0493 | 0.0936% |
| 2 | Dec 19, 2023 | Dec 19, 2023 | Dec 19, 2023 | $0.178 | 0.390% |
| 3 | Jan 02, 2023 | Sep 19, 2023 | Sep 22, 2023 | $0.121 | 0.294% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.138 | 0.336% |
| 5 | Jan 02, 2023 | Mar 21, 2023 | Mar 24, 2023 | $0.118 | 0.309% |
FAQ
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