Source Markets Plc - Invesco Msci Saudi ETF Forecast
Source Markets Plc - Invesco Msci Saudi ETF downgraded to Sell Candidate
(Updated on Jun 19, 2024)
The Source Markets Plc - Invesco Msci Saudi ETF price fell by -2.47% on the last day (Wednesday, 19th Jun 2024) from $29.53 to $28.80. During the last trading day the ETF fluctuated 0% from a day low at $28.80 to a day high of $28.80. The price has risen in 5 of the last 10 days and is up by 1.43% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -11 thousand shares and in total, 0 shares were bought and sold for approximately $0 .
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -10.60% during the next 3 months and, with a 90% probability hold a price between $24.50 and $26.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MSAU.L Signals & Forecast
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. The Source Markets Plc - Invesco Msci Saudi 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 $28.97 and $29.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -2.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Source Markets Plc - Invesco Msci Saudi ETF
Source Markets Plc - Invesco Msci Saudi finds support from accumulated volume at $28.67 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 1.06%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSAU.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Source Markets Plc - Invesco Msci Saudi Arabia Ucits Etf to open at $28.80, and during the day (based on 14 day Average True Range), to move between $28.34 and $29.26, which gives a possible trading interval of +/-$0.465 (+/-1.61%) up or down from last closing price. If Source Markets Plc - Invesco Msci Saudi Arabia Ucits Etf takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.67 (0.47%) than the resistance at $30.15 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Source Markets Plc - Invesco Msci Saudi Arabia Ucits Etf ETF A Buy?
Source Markets Plc - Invesco Msci Saudi holds several negative signals and is within a 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 Buy to a Sell candidate.
Current score: -4.195 Sell Candidate Downgraded
Predicted Opening Price for Source Markets Plc - Invesco Msci Saudi Arabia Ucits Etf of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $28.80 ( 0%) | $28.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSAU.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.80 | - |
| R2 | 28.80 | - |
| R1 | 28.80 | - |
| Price | 28.80 | |
| S1 | 28.80 | - |
| S2 | 28.80 | - |
| S3 | 28.80 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.53 | 6.01% |
| R2 | 30.45 | 5.73% |
| R1 | 30.15 | 4.69% |
| Price | 28.80 | |
| S1 | 28.67 | -0.469% |
| S2 | 28.59 | -0.747% |
| S3 | 28.40 | -1.41% |
FAQ
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