Matthews China Discovery Active Etf ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Matthews China Discovery Active Etf ETF downgraded to Sell Candidate
(Updated on Jun 27, 2024)
The Matthews China Discovery Active Etf ETF price fell by -1.97% on the last day (Thursday, 27th Jun 2024) from $25.89 to $25.38. During the last trading day the ETF fluctuated 0.709% from a day low at $25.38 to a day high of $25.56. The price has fallen in 9 of the last 10 days and is down by -5.79% for this period. Volume has increased on the last day by 5 thousand 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, 5 thousand shares were bought and sold for approximately $127.18 thousand.
Given the current short-term trend, the ETF is expected to rise 3.76% during the next 3 months and, with a 90% probability hold a price between $26.33 and $29.84 at the end of this 3-month period.
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MCHS Signals & Forecast
There are few to no technical positive signals at the moment. The Matthews China Discovery Active 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 $26.05 and $27.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -10.35%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Matthews China Discovery Active Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Matthews China Discovery Active Etf ETF
Matthews China Discovery Active Etf finds support from accumulated volume at $25.31 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 $0.180 between high and low, or 0.709%. For the last week the ETF has had daily average volatility of 0.142%.
Matthews China Discovery Active Etf is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCHS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Matthews China Discovery Active Etf to open at $25.44, and during the day (based on 14 day Average True Range), to move between $25.15 and $25.61, which gives a possible trading interval of +/-$0.226 (+/-0.89%) up or down from last closing price. If Matthews China Discovery Active Etf takes out the full calculated possible swing range there will be an estimated 1.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.31 (0.28%) than the resistance at $26.93 (6.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Matthews China Discovery Active Etf ETF A Buy?
The Matthews China Discovery Active Etf ETF holds several negative signals and despite the positive trend, we believe Matthews China Discovery Active Etf will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.443 Sell Candidate Downgraded
Predicted Opening Price for Matthews China Discovery Active Etf of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$25.44 ( 0.236%) | $25.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCHS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.62 | 0.95% |
R2 | 25.55 | 0.675% |
R1 | 25.51 | 0.507% |
Price | 25.38 | |
S1 | 25.37 | -0.0345% |
S2 | 25.33 | -0.202% |
S3 | 25.26 | -0.473% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 27.57 | 8.63% |
R2 | 27.05 | 6.58% |
R1 | 26.93 | 6.11% |
Price | 25.38 | |
S1 | 25.31 | -0.276% |
S2 | 25.30 | -0.333% |
S3 | 25.24 | -0.552% |
FAQ
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