KraneShares California Carbon A ETF Forecast
Red day on Wednesday for KraneShares California Carbon A ETF after losing 0.600%
(Updated on Apr 24, 2024)
The KraneShares California Carbon A ETF price fell by -0.600% on the last day (Wednesday, 24th Apr 2024) from $28.65 to $28.48. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.23% from a day low at $28.39 to a day high of $28.74. The price has been going up and down for this period, and there has been a -1.01% loss for the last 2 weeks. Volume has increased on the last day by 29 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, 92 thousand shares were bought and sold for approximately $2.63 million.
The ETF lies the upper part of a wide and falling 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 $28.58 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -10.18% during the next 3 months and, with a 90% probability hold a price between $23.04 and $25.67 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KCCA Signals & Forecast
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. The KraneShares California Carbon A ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $28.79 and $28.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -4.37%. 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 KraneShares California Carbon A ETF
KraneShares California Carbon A finds support from accumulated volume at $27.99 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 $0.350 between high and low, or 1.23%. For the last week the ETF has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KCCA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect KraneShares California Carbon A to open at $28.54, and during the day (based on 14 day Average True Range), to move between $27.94 and $29.02, which gives a possible trading interval of +/-$0.542 (+/-1.90%) up or down from last closing price. If KraneShares California Carbon A takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.77 (1.02%) than the support at $27.99 (1.72%), 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 KraneShares California Carbon A ETF A Buy?
KraneShares California Carbon A holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.495 Sell Candidate Unchanged
Predicted Opening Price for KraneShares California Carbon A of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $28.54 ( 0.199%) | $28.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KCCA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.89 | 1.43 % | |
| R2 | 28.75 | 0.96 % | ||
| R1 | 28.67 | 0.668 % | ||
| Current price: | 28.48 | |||
| Support | S1 | 28.40 | -0.270 % | |
| S2 | 28.32 | -0.561 % | ||
| S3 | 28.19 | -1.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.32 | 9.97 % | |
| R2 | 28.97 | 1.72 % | ||
| R1 | 28.77 | 1.02 % | ||
| Current price | 28.48 | |||
| Support | S1 | 27.99 | -1.72% | |
| S2 | 27.93 | -1.93% | ||
| S3 | 27.16 | -4.63% |
KCCA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.736 | 2.46% |
| 2 | Jun 27, 2023 | Jun 28, 2023 | Jun 30, 2023 | $0.203 | 0.799% |
| 3 | Dec 27, 2022 | Dec 28, 2022 | Dec 30, 2022 | $0.0560 | 0.241% |
FAQ
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