Legg Mason International Low Volatility ETF Forecast

Legg Mason International Low Volatility ETF price up 0.260% on Friday
(Updated on May 17, 2024)

LVHI Signals & Forecast

The Legg Mason International Low Volatility 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 $30.58 and $29.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.13%. 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. The ETF had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Legg Mason International Low Volatility ETF

Legg Mason International Low Volatility finds support from accumulated volume at $29.84 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 $0.170 between high and low, or 0.555%. For the last week the ETF has had daily average volatility of 0.479%.

The Legg Mason International Low Volatility ETF is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the ETF is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that 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. Since the Legg Mason International Low Volatility has been rising for 10 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $29.25 (-5.07%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (LVHI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Legg Mason International Low Volatility High Dividend ETF to open at $30.76, and during the day (based on 14 day Average True Range), to move between $30.60 and $31.02, which gives a possible trading interval of +/-$0.207 (+/-0.67%) up or down from last closing price. If Legg Mason International Low Volatility High Dividend ETF takes out the full calculated possible swing range there will be an estimated 1.34% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $29.84, some $0.97 (3.15%) from the current price of $30.81, our system finds the risk reward attractive.

Is Legg Mason International Low Volatility High Dividend ETF ETF A Buy?

Legg Mason International Low Volatility 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Legg Mason International Low Volatility High Dividend ETF of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.