JPMorgan U.S. Quality Factor ETF Forecast

Evaluation of JPMorgan U.S. Quality Factor ETF downgraded after the last trading session.
(Updated on May 21, 2024)

JQUA Signals & Forecast

The JPMorgan U.S. Quality 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 $52.30 and $51.24. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.228%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for JPMorgan U.S. Quality Factor ETF

JPMorgan U.S. Quality Factor finds support from accumulated volume at $52.28 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 $0.142 between high and low, or 0.272%. For the last week the ETF has had daily average volatility of 0.467%.

The JPMorgan U.S. Quality 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: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JQUA) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect JPMorgan U.S. Quality Factor ETF to open at $52.41, and during the day (based on 14 day Average True Range), to move between $52.03 and $52.85, which gives a possible trading interval of +/-$0.412 (+/-0.79%) up or down from last closing price. If JPMorgan U.S. Quality Factor ETF takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $52.54 (0.19%) than the support at $52.28 (0.31%), 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 JPMorgan U.S. Quality Factor ETF ETF A Buy?

JPMorgan U.S. Quality Factor holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.133 Sell Candidate Downgraded

Predicted Opening Price for JPMorgan U.S. Quality Factor ETF of Wednesday, May 22, 2024

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