Legal & General Ucits Etf Plc - L&g Ftse ETF Forecast
Red day on Wednesday for Legal & General Ucits Etf Plc - L&g Ftse ETF after losing 0.379%
(Updated on Jun 26, 2024)
The Legal & General Ucits Etf Plc - L&g Ftse ETF price fell by -0.379% on the last day (Wednesday, 26th Jun 2024) from £40,212.50 to £40,060.00. During the last trading day the ETF fluctuated 2.25% from a day low at £39,820.28 to a day high of £40,714.50. The price has fallen in 7 of the last 10 days and is down by -0.06% for this period. Volume has increased on the last day by 762 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, 1 thousand shares were bought and sold for approximately £49.59 million.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £39,231.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 9.45% during the next 3 months and, with a 90% probability hold a price between £42,938.07 and £47,976.17 at the end of this 3-month period.
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LUK2.L 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 Legal & General Ucits Etf Plc - L&g Ftse 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 £40,071.48 and £40,660.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -4.92%. 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 Legal & General Ucits Etf Plc - L&g Ftse ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £37,550.00 and £36,867.50. 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, Legal & General Ucits Etf Plc - L&g Ftse finds support just below today's level at £37,550.00. If this is broken, then the next support from accumulated volume will be at £36,867.50 and £36,535.00.
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 £894.22 between high and low, or 2.25%. For the last week the ETF has had daily average volatility of 1.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LUK2.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Legal & General Ucits Etf Plc - L&g Ftse 100 Leveraged (daily 2x) Ucits Etf to open at £40,198.26, and during the day (based on 14 day Average True Range), to move between £39,359.52 and £40,760.48, which gives a possible trading interval of +/-£700.48 (+/-1.75%) up or down from last closing price. If Legal & General Ucits Etf Plc - L&g Ftse 100 Leveraged (daily 2x) Ucits Etf takes out the full calculated possible swing range there will be an estimated 3.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £40,417.50 (0.89%) than the support at £37,550.00 (6.27%), 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 Legal & General Ucits Etf Plc - L&g Ftse 100 Leveraged (daily 2x) Ucits Etf ETF A Buy?
The Legal & General Ucits Etf Plc - L&g Ftse ETF holds several negative signals and despite the positive trend, we believe Legal & General Ucits Etf Plc - L&g Ftse will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -4.302 Sell Candidate Unchanged
Predicted Opening Price for Legal & General Ucits Etf Plc - L&g Ftse 100 Leveraged (daily 2x) Ucits Etf of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
£40,198.26 ( 0.345%) | £40,060.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUK2.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 41,092.49 | 2.58% |
R2 | 40,750.89 | 1.72% |
R1 | 40,539.85 | 1.20% |
Price | 40,060.00 | |
S1 | 39,856.67 | -0.508% |
S2 | 39,645.63 | -1.03% |
S3 | 39,304.04 | -1.89% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 41,505.00 | 3.61% |
R2 | 40,422.50 | 0.90% |
R1 | 40,417.50 | 0.89% |
Price | 40,060.00 | |
S1 | 37,550.00 | -6.27% |
S2 | 36,867.50 | -7.97% |
S3 | 36,535.00 | -8.80% |
FAQ
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