KraneShares CSI China Internet ETF Forecast
KraneShares CSI China Internet ETF downgraded to Hold/Accumulate
(Updated on Apr 26, 2024)
The KraneShares CSI China Internet ETF price gained 2.82% on the last trading day (Friday, 26th Apr 2024), rising from $28.01 to $28.80. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.65% from a day low at $28.56 to a day high of $29.03. The price has risen in 6 of the last 10 days and is up by 10.47% 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, 6 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately $615.81 million.
The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $27.80, a level that may pose a second chance to hit a runner. According to fan-theory $29.79 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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KWEB Signals & Forecast
The KraneShares CSI China Internet 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 $27.12 and $26.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 13.16%. 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 KraneShares CSI China Internet ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $26.44 and $24.97. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, KraneShares CSI China Internet finds support just below today's level at $26.44. If this is broken, then the next support from accumulated volume will be at $24.97 and $24.95.
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 $0.470 between high and low, or 1.65%. For the last week, the ETF has had daily average volatility of 1.86%.
Our recommended stop-loss: $27.75 (-3.66%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (KWEB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect KraneShares CSI China Internet ETF to open at $28.80, and during the day (based on 14 day Average True Range), to move between $28.20 and $29.40, which gives a possible trading interval of +/-$0.602 (+/-2.09%) up or down from last closing price. If KraneShares CSI China Internet ETF takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $26.44, some $2.36 (8.19%) from the current price of $28.80, our system finds the risk reward attractive.
Is KraneShares CSI China Internet ETF ETF A Buy?
KraneShares CSI China Internet 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for KraneShares CSI China Internet ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $28.80 ( 0.0116%) | $28.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KWEB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.27 | 1.62 % | |
| R2 | 29.09 | 1.00 % | ||
| R1 | 28.98 | 0.612 % | ||
| Current price: | 28.80 | |||
| Support | S1 | 28.62 | -0.635 % | |
| S2 | 28.51 | -1.02 % | ||
| S3 | 28.33 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 28.80 | |||
| Support | S1 | 26.44 | -8.19% | |
| S2 | 24.97 | -13.30% | ||
| S3 | 24.95 | -13.37% |
KWEB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.0420 | 0.162% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.419 | 1.58% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 31, 2021 | $2.58 | 7.07% |
| 4 | Dec 28, 2020 | Dec 29, 2020 | Dec 31, 2020 | $0.221 | 0.288% |
| 5 | Dec 26, 2019 | Dec 27, 2019 | Dec 31, 2019 | $0.0410 | 0.0842% |
FAQ
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