Jpmorgan Etfs (ireland) Icav - Us ETF Forecast
Jpmorgan Etfs (ireland) Icav - Us ETF downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
The Jpmorgan Etfs (ireland) Icav - Us ETF price fell by -0.344% on the last day (Tuesday, 25th Jun 2024) from £4,326.37 to £4,311.50. During the last trading day the ETF fluctuated 0.380% from a day low at £4,295.91 to a day high of £4,312.23. The price has risen in 6 of the last 10 days and is up by 3.02% over the past 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 17 thousand shares were bought and sold for approximately £74.89 million.
The ETF lies in the upper part of a narrow and weak rising 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 £4,341.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.01% during the next 3 months and, with a 90% probability hold a price between £4,345.27 and £4,559.44 at the end of this 3-month period.
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JURE.L Signals & Forecast
The Jpmorgan Etfs (ireland) Icav - Us 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 £4,306.37 and £4,182.32. 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 Thursday, June 20, 2024, and so far it has fallen -0.536%. 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 Etfs (ireland) Icav - Us ETF
Jpmorgan Etfs (ireland) Icav - Us finds support from accumulated volume at £4,249.50 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 £16.32 between high and low, or 0.380%. For the last week the ETF has had daily average volatility of 0.266%.
The Jpmorgan Etfs (ireland) Icav - Us 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: £4,212.15 (-2.30%) (This ETF has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (JURE.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Jpmorgan Etfs (ireland) Icav - Us Research Enhanced Index Equity (esg) Ucits Etf to open at £4,306.54, and during the day (based on 14 day Average True Range), to move between £4,283.64 and £4,339.36, which gives a possible trading interval of +/-£27.86 (+/-0.65%) up or down from last closing price. If Jpmorgan Etfs (ireland) Icav - Us Research Enhanced Index Equity (esg) Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £4,315.75 (0.10%) than the support at £4,249.50 (1.44%), 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 Etfs (ireland) Icav - Us Research Enhanced Index Equity (esg) Ucits Etf ETF A Buy?
Jpmorgan Etfs (ireland) Icav - Us holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.841 Hold/Accumulate Downgraded
Predicted Opening Price for Jpmorgan Etfs (ireland) Icav - Us Research Enhanced Index Equity (esg) Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £4,306.54 ( 0.115%) | £4,311.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JURE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,322.87 | 0.264% |
| R2 | 4,316.63 | 0.119% |
| R1 | 4,312.78 | 0.0297% |
| Price | 4,311.50 | |
| S1 | 4,300.31 | -0.260% |
| S2 | 4,296.46 | -0.349% |
| S3 | 4,290.22 | -0.494% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,334.75 | 0.539% |
| R2 | 4,326.37 | 0.345% |
| R1 | 4,315.75 | 0.0986% |
| Price | 4,311.50 | |
| S1 | 4,249.50 | -1.44% |
| S2 | 4,122.50 | -4.38% |
| S3 | 4,099.25 | -4.92% |
FAQ
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