Lyxor Core Msci Japan (dr) Ucits Etf ETF Forecast
Stronger technical forecast for Lyxor Core Msci Japan (dr) Ucits Etf ETF price after Wednesday trading.
(Updated on Jun 26, 2024)
The Lyxor Core Msci Japan (dr) Ucits Etf ETF price gained 0.648% on the last trading day (Wednesday, 26th Jun 2024), rising from £19.44 to £19.57. It has now gained 6 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 0.580% from a day low at £19.47 to a day high of £19.58. The price has risen in 6 of the last 10 days and is up by 1.18% 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, 203 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately £28.16 thousand.
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 £19.70 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 3.16% during the next 3 months and, with a 90% probability hold a price between £19.37 and £20.32 at the end of this 3-month period.
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LCJG.L Signals & Forecast
The Lyxor Core Msci Japan (dr) Ucits 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 £19.16 and £19.10. 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 6.76%. Further rise is indicated until a new top pivot has been found. Lyxor Core Msci Japan (dr) Ucits Etf has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lyxor Core Msci Japan (dr) Ucits Etf ETF
Lyxor Core Msci Japan (dr) Ucits Etf finds support from accumulated volume at £19.34 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 £0.113 between high and low, or 0.580%. For the last week the ETF has had daily average volatility of 0.424%.
Since the Lyxor Core Msci Japan (dr) Ucits Etf has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: £18.84 (-3.74%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 63 days ago.)
Trading Expectations (LCJG.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Lyxor Core Msci Japan (dr) Ucits Etf to open at £19.54, and during the day (based on 14 day Average True Range), to move between £19.40 and £19.74, which gives a possible trading interval of +/-£0.166 (+/-0.85%) up or down from last closing price. If Lyxor Core Msci Japan (dr) Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £19.34, some £0.228 (1.16%) from the current price of £19.57, our system finds the risk reward attractive.
Is Lyxor Core Msci Japan (dr) Ucits Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lyxor Core Msci Japan (dr) Ucits Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.883 Buy Candidate Upgraded
Predicted Opening Price for Lyxor Core Msci Japan (dr) Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £19.54 ( 0.152%) | £19.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LCJG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.65 | 0.425% |
| R2 | 19.61 | 0.205% |
| R1 | 19.58 | 0.0683% |
| Price | 19.57 | |
| S1 | 19.50 | -0.373% |
| S2 | 19.47 | -0.509% |
| S3 | 19.43 | -0.730% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 19.57 | |
| S1 | 19.34 | -1.16% |
| S2 | 19.01 | -2.85% |
| S3 | 18.86 | -3.63% |
FAQ
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