Multi-units Luxembourg - Lyxor Daily ETF Forecast

Multi-units Luxembourg - Lyxor Daily ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)

LYY8.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.38%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Multi-units Luxembourg - Lyxor Daily ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 162.37€. On a fall, the ETF will find some support from the short-term average at 157.28€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Multi-units Luxembourg - Lyxor Daily ETF

Multi-units Luxembourg - Lyxor Daily finds support from accumulated volume at 154.92€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 2.06€ (1.31%) between high and low. For the last week, the ETF has had daily average volatility of 1.72%.

Our recommended stop-loss: 148.81€ (-5.59%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)

Trading Expectations (LYY8.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Multi-units Luxembourg - Lyxor Daily Levdax Ucits Etf to open at 158.07€, and during the day (based on 14 day Average True Range), to move between 154.47€ and 160.77€, which gives a possible trading interval of +/-3.15€ (+/-2.00%) up or down from last closing price. If Multi-units Luxembourg - Lyxor Daily Levdax Ucits Etf takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 158.30€ (0.43%) than the support at 154.92€ (1.71%), 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 Multi-units Luxembourg - Lyxor Daily Levdax Ucits Etf ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Multi-units Luxembourg - Lyxor Daily ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.242 Buy Candidate Upgraded

Predicted Opening Price for Multi-units Luxembourg - Lyxor Daily Levdax Ucits Etf of Monday, July 1, 2024

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