Lyxor Euro Stoxx Banks (dr) Ucits Etf ETF Forecast
Lyxor Euro Stoxx Banks (dr) Ucits Etf ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Lyxor Euro Stoxx Banks (dr) Ucits Etf ETF price gained 0.0770% on the last trading day (Friday, 28th Jun 2024), rising from 155.94€ to 156.06€. During the last trading day the ETF fluctuated 1.07% from a day low at 155.24€ to a day high of 156.90€. The price has been going up and down for this period, and there has been a 2.43% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 838 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately 386.09€ thousand.
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 153.18€ 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 3.10% during the next 3 months and, with a 90% probability hold a price between 157.92€ and 174.71€ at the end of this 3-month period.
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LYBK.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.43%. Further rise is indicated until a new top pivot has been found. Lyxor Euro Stoxx Banks (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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lyxor Euro Stoxx Banks (dr) Ucits Etf 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 156.55€ and 162.26€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lyxor Euro Stoxx Banks (dr) Ucits Etf ETF
Lyxor Euro Stoxx Banks (dr) Ucits Etf finds support from accumulated volume at 155.78€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 1.66€ between high and low, or 1.07%. For the last week, the ETF has had daily average volatility of 1.31%.
Our recommended stop-loss: 146.37€ (-6.21%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (LYBK.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Lyxor Euro Stoxx Banks (dr) Ucits Etf to open at 156.07€, and during the day (based on 14 day Average True Range), to move between 153.51€ and 158.61€, which gives a possible trading interval of +/-2.55€ (+/-1.63%) up or down from last closing price. If Lyxor Euro Stoxx Banks (dr) Ucits Etf takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 155.78€ (0.18%) than the resistance at 159.10€ (1.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lyxor Euro Stoxx Banks (dr) Ucits Etf ETF A Buy?
Lyxor Euro Stoxx Banks (dr) Ucits Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.089 Hold/Accumulate Upgraded
Predicted Opening Price for Lyxor Euro Stoxx Banks (dr) Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 156.07€ ( 0.0043%) | 156.06€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYBK.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 157.73 | 1.07% |
| R2 | 157.09 | 0.662% |
| R1 | 156.70 | 0.411% |
| Price | 156.06 | |
| S1 | 155.43 | -0.402% |
| S2 | 155.04 | -0.653% |
| S3 | 154.41 | -1.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 165.86 | 6.28% |
| R2 | 160.50 | 2.85% |
| R1 | 159.10 | 1.95% |
| Price | 156.06 | |
| S1 | 155.78 | -0.179% |
| S2 | 152.36 | -2.37% |
| S3 | 152.14 | -2.51% |
FAQ
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