IQ MERGER ARBITRAGE ETF Forecast
IQ MERGER ARBITRAGE ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The IQ MERGER ARBITRAGE ETF price gained 0.573% on the last trading day (Friday, 28th Jun 2024), rising from $31.42 to $31.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.89% from a day low at $31.36 to a day high of $31.64. The price has risen in 6 of the last 10 days and is up by 1.25% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 14 thousand shares were bought and sold for approximately $446.70 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $31.68 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect IQ MERGER ARBITRAGE ETF with a 90% probability to be traded between $31.04 and $31.83 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
The IQ MERGER ARBITRAGE 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 $31.24 and $31.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for IQ MERGER ARBITRAGE ETF
IQ MERGER ARBITRAGE finds support from accumulated volume at $31.21 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.280 between high and low, or 0.89%. For the last week the ETF has had daily average volatility of 0.658%
Our recommended stop-loss: $30.58 (-3.24%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (MNA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect IQ MERGER ARBITRAGE ETF to open at $31.53, and during the day (based on 14 day Average True Range), to move between $31.40 and $31.80, which gives a possible trading interval of +/-$0.198 (+/-0.63%) 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 1.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.21, some $0.390 (1.23%) from the current price of $31.60, our system finds the risk reward attractive.
Is IQ MERGER ARBITRAGE 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 IQ MERGER ARBITRAGE 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: 2.975 Buy Candidate Upgraded
Predicted Opening Price for IQ MERGER ARBITRAGE ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $31.53 ( 0.211%) | $31.60 |
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 | 31.81 | 0.675% |
| R2 | 31.71 | 0.337% |
| R1 | 31.64 | 0.128% |
| Price | 31.60 | |
| S1 | 31.43 | -0.549% |
| S2 | 31.36 | -0.759% |
| S3 | 31.25 | -1.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 31.60 | |
| S1 | 31.21 | -1.23% |
| S2 | 31.13 | -1.49% |
| S3 | 31.00 | -1.90% |
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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