Roundhill Magnificent Seven ETF Forecast
Green day on Tuesday for Roundhill Magnificent Seven
(Updated on Jul 02, 2024)
The Roundhill Magnificent Seven ETF price gained 2.28% on the last trading day (Tuesday, 2nd Jul 2024), rising from $46.10 to $47.15. During the last trading day the ETF fluctuated 2.40% from a day low at $46.05 to a day high of $47.15. The price has been going up and down for this period, and there has been a 4.59% 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, 319 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $58.90 million.
The ETF lies in the upper part of a wide and strong 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 $47.65 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 20.51% during the next 3 months and, with a 90% probability hold a price between $51.93 and $57.42 at the end of this 3-month period.
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MAGS Signals & Forecast
The Roundhill Magnificent Seven 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 $45.50 and $43.02. 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 29.00%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Roundhill Magnificent Seven ETF
Roundhill Magnificent Seven finds support from accumulated volume at $46.10 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 $1.10 between high and low, or 2.40%. For the last week, the ETF has had daily average volatility of 2.12%.
Our recommended stop-loss: $45.49 (-3.52%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (MAGS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Roundhill Magnificent Seven ETF to open at $46.78, and during the day (based on 14 day Average True Range), to move between $46.33 and $47.97, which gives a possible trading interval of +/-$0.82 (+/-1.74%) up or down from last closing price. If Roundhill Magnificent Seven ETF takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $46.10, some $1.05 (2.23%) from the current price of $47.15, our system finds the risk reward attractive.
Is Roundhill Magnificent Seven ETF ETF A Buy?
Roundhill Magnificent Seven holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.158 Strong Buy Candidate Unchanged
Predicted Opening Price for Roundhill Magnificent Seven ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $46.78 ( 0.780%) | $47.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAGS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.89 | 1.56% |
| R2 | 47.46 | 0.666% |
| R1 | 47.20 | 0.114% |
| Price | 47.15 | |
| S1 | 46.36 | -1.67% |
| S2 | 46.10 | -2.23% |
| S3 | 45.68 | -3.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 47.15 | |
| S1 | 46.10 | -2.23% |
| S2 | 45.81 | -2.84% |
| S3 | 36.55 | -22.48% |
MAGS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 29, 2023 | $0.146 | 0.436% |
| 2 | Aug 16, 2021 | Sep 23, 2021 | Sep 22, 2021 | $1.29 | 0% |
| 3 | Aug 16, 2021 | Aug 30, 2021 | Sep 22, 2021 | $1.73 | 0% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | $1.08 | 0% |
| 5 | Dec 31, 2003 | Jan 08, 2004 | Jan 27, 2004 | $0.0476 | 0% |
FAQ
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