Simplify Mbs Etf ETF Forecast
Simplify Mbs Etf ETF downgraded to Sell Candidate
(Updated on Jun 26, 2024)
The Simplify Mbs Etf ETF price fell by -0.237% on the last day (Wednesday, 26th Jun 2024) from $50.55 to $50.43. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.119% from a day low at $50.41 to a day high of $50.47. The price has been going up and down for this period, and there has been a -0.18% loss for the last 2 weeks. Volume has increased on the last day by 14 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, 93 thousand shares were bought and sold for approximately $4.68 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 Simplify Mbs Etf ETF with a 90% probability to be traded between $50.11 and $51.20 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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MTBA 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 Simplify Mbs Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $50.72 and $50.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -0.86%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
A sell signal from a double top formation was found on Friday, June 21, 2024 and based on theory for this formation the price should fall by -1.86% to $49.49 within 25 trading days since signal was issued (Monday, July 29, 2024).
Support, Risk & Stop-loss for Simplify Mbs Etf ETF
Simplify Mbs Etf finds support from accumulated volume at $50.00 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 $0.0600 between high and low, or 0.119%. For the last week the ETF has had daily average volatility of 0.224%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTBA) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Simplify Mbs Etf to open at $50.44, and during the day (based on 14 day Average True Range), to move between $50.24 and $50.62, which gives a possible trading interval of +/-$0.188 (+/-0.37%) up or down from last closing price. If Simplify Mbs Etf takes out the full calculated possible swing range there will be an estimated 0.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.50 (0.14%) than the support at $50.00 (0.85%), 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 Simplify Mbs Etf ETF A Buy?
Simplify Mbs Etf 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: -2.217 Sell Candidate Downgraded
Predicted Opening Price for Simplify Mbs Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $50.44 ( 0.0132%) | $50.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTBA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.50 | 0.132% |
| R2 | 50.47 | 0.0867% |
| R1 | 50.46 | 0.0587% |
| Price | 50.43 | |
| S1 | 50.41 | -0.0322% |
| S2 | 50.40 | -0.0603% |
| S3 | 50.38 | -0.106% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.97 | 1.07% |
| R2 | 50.91 | 0.95% |
| R1 | 50.50 | 0.139% |
| Price | 50.43 | |
| S1 | 50.00 | -0.85% |
| S2 | 49.87 | -1.11% |
| S3 | 49.62 | -1.61% |
FAQ
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