JPMorgan Diversified Return Emerging ETF Forecast

JPMorgan Diversified Return Emerging ETF price up 0.459% on Thursday
(Updated on May 09, 2024)

JPEM Signals & Forecast

The JPMorgan Diversified Return Emerging 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 $55.37 and $54.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.27%. 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. The ETF had a Golden Star Signal on Tuesday, April 23, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, September 08, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for JPMorgan Diversified Return Emerging ETF

JPMorgan Diversified Return Emerging finds support from accumulated volume at $55.59 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 $0.334 between high and low, or 0.602%. For the last week the ETF has had daily average volatility of 0.489%

The JPMorgan Diversified Return Emerging ETF is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $53.24 (-4.62%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (JPEM) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect JPMorgan Diversified Return Emerging Markets Equity ETF to open at $55.71, and during the day (based on 14 day Average True Range), to move between $55.40 and $56.25, which gives a possible trading interval of +/-$0.426 (+/-0.76%) up or down from last closing price. If JPMorgan Diversified Return Emerging Markets Equity ETF takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $55.59, some $0.235 (0.42%) from the current price of $55.82, our system finds the risk reward attractive.

Is JPMorgan Diversified Return Emerging Markets Equity ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for JPMorgan Diversified Return Emerging ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back.

Current score: 3.587 Buy Candidate Unchanged

Predicted Opening Price for JPMorgan Diversified Return Emerging Markets Equity ETF of Friday, May 10, 2024

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