Jpmorgan U.s. Tech Leaders Etf ETF Forecast
Jpmorgan U.s. Tech Leaders Etf ETF upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Jpmorgan U.s. Tech Leaders Etf ETF price gained 1.09% on the last trading day (Tuesday, 2nd Jul 2024), rising from $69.43 to $70.19. During the last trading day the ETF fluctuated 1.34% from a day low at $69.27 to a day high of $70.19. The price has risen in 6 of the last 10 days and is up by 1.89% 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, 89 thousand more shares were traded than the day before. In total, 158 thousand shares were bought and sold for approximately $11.07 million.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.49% during the next 3 months and, with a 90% probability hold a price between $69.99 and $77.94 at the end of this 3-month period.
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JTEK Signals & Forecast
Mostly positive signals in the chart today. The Jpmorgan U.s. Tech Leaders Etf 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 $68.94 and $66.74. 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 17.02%. 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. Tech Leaders Etf ETF
Jpmorgan U.s. Tech Leaders Etf finds support from accumulated volume at $68.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.92 between high and low, or 1.34%. For the last week, the ETF has had daily average volatility of 1.42%.
Our recommended stop-loss: $67.72 (-3.52%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 80 days ago.)
Trading Expectations (JTEK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Jpmorgan U.s. Tech Leaders Etf to open at $69.88, and during the day (based on 14 day Average True Range), to move between $69.14 and $71.24, which gives a possible trading interval of +/-$1.05 (+/-1.49%) up or down from last closing price. If Jpmorgan U.s. Tech Leaders Etf takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $68.36, some $1.83 (2.61%) from the current price of $70.19, our system finds the risk reward attractive.
Is Jpmorgan U.s. Tech Leaders Etf ETF A Buy?
Jpmorgan U.s. Tech Leaders Etf holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.350 Strong Buy Candidate Upgraded
Predicted Opening Price for Jpmorgan U.s. Tech Leaders Etf of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $69.88 ( 0.439%) | $70.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JTEK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.81 | 0.88% |
| R2 | 70.45 | 0.375% |
| R1 | 70.24 | 0.0641% |
| Price | 70.19 | |
| S1 | 69.53 | -0.94% |
| S2 | 69.31 | -1.25% |
| S3 | 68.96 | -1.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 70.19 | |
| S1 | 68.36 | -2.61% |
| S2 | 66.61 | -5.10% |
| S3 | 61.14 | -12.89% |
FAQ
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