IQ MERGER ARBITRAGE ETF Forecast
Evaluation of IQ MERGER ARBITRAGE ETF downgraded after the last trading session.
(Updated on Jun 25, 2024)
The IQ MERGER ARBITRAGE ETF price fell by -0.788% on the last day (Tuesday, 25th Jun 2024) from $31.24 to $30.99. During the last trading day the ETF fluctuated 0.645% from a day low at $30.99 to a day high of $31.19. The price has fallen in 5 of the last 10 days and is down by -0.74% for this period. Volume has increased on the last day by 6 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, 45 thousand shares were bought and sold for approximately $1.41 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect IQ MERGER ARBITRAGE ETF with a 90% probability to be traded between $30.76 and $31.36 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MNA Signals & Forecast
There are few to no technical positive signals at the moment. The IQ MERGER ARBITRAGE 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 $31.14 and $31.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -1.21%. 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). IQ MERGER ARBITRAGE 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 IQ MERGER ARBITRAGE ETF
IQ MERGER ARBITRAGE finds support from accumulated volume at $30.89 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 $0.200 between high and low, or 0.645%. For the last week the ETF has had daily average volatility of 0.472%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNA) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect IQ MERGER ARBITRAGE ETF to open at $31.06, and during the day (based on 14 day Average True Range), to move between $30.81 and $31.17, which gives a possible trading interval of +/-$0.181 (+/-0.58%) up or down from last closing price. If IQ MERGER ARBITRAGE ETF takes out the full calculated possible swing range there will be an estimated 1.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.00 (0.03%) than the support at $30.89 (0.32%), 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 IQ MERGER ARBITRAGE ETF ETF A Buy?
IQ MERGER ARBITRAGE holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -4.694 Sell Candidate Downgraded
Predicted Opening Price for IQ MERGER ARBITRAGE ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $31.06 ( 0.215%) | $30.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.26 | 0.86% |
| R2 | 31.18 | 0.614% |
| R1 | 31.13 | 0.462% |
| Price | 30.99 | |
| S1 | 30.98 | -0.0314% |
| S2 | 30.93 | -0.184% |
| S3 | 30.86 | -0.430% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.46 | 1.52% |
| R2 | 31.21 | 0.710% |
| R1 | 31.00 | 0.0323% |
| Price | 30.99 | |
| S1 | 30.89 | -0.323% |
| S2 | 30.86 | -0.419% |
| S3 | 30.85 | -0.452% |
MNA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.378 | 1.20% |
| 2 | Feb 05, 2020 | Dec 30, 2020 | Jan 07, 2021 | $0.766 | 2.28% |
| 3 | Dec 28, 2016 | Dec 28, 2016 | Jan 04, 2017 | $0.0610 | 0.208% |
| 4 | Dec 29, 2015 | Dec 29, 2015 | Jan 05, 2016 | $0.245 | 0.87% |
| 5 | Dec 27, 2013 | Dec 27, 2013 | Jan 03, 2014 | $0.264 | 0.99% |
FAQ
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