Horizon Kinetics Energy Remediation Etf ETF Forecast
Weaker technical forecast for Horizon Kinetics Energy Remediation Etf as ETF downgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)
The Horizon Kinetics Energy Remediation Etf ETF price gained 0.748% on the last trading day (Thursday, 20th Jun 2024), rising from $27.95 to $28.16. During the last trading day the ETF fluctuated 0% from a day low at $28.16 to a day high of $28.16. The price has been going up and down for this period, and there has been a -0.6% loss for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 253 shares were bought and sold for approximately $7.12 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 ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Horizon Kinetics Energy Remediation Etf ETF with a 90% probability to be traded between $27.57 and $29.01 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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NVIR Signals & Forecast
There are mixed signals in the ETF today. The Horizon Kinetics Energy Remediation Etf ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $28.30. On a fall, the ETF will find some support from the short-term average at $28.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.06%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Monday, June 17, 2024 and based on theory for this formation the price should go up by 6.96% to $30.12 within 21 trading days since signal was issued (Thursday, July 18, 2024).
Support, Risk & Stop-loss for Horizon Kinetics Energy Remediation Etf ETF
Horizon Kinetics Energy Remediation Etf finds support from accumulated volume at $28.07 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 0.335%
Our recommended stop-loss: $26.65 (-5.35%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (NVIR) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Horizon Kinetics Energy Remediation Etf to open at $28.16, and during the day (based on 14 day Average True Range), to move between $27.88 and $28.44, which gives a possible trading interval of +/-$0.282 (+/-1.00%) up or down from last closing price. If Horizon Kinetics Energy Remediation Etf takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.07 (0.32%) than the resistance at $28.60 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Horizon Kinetics Energy Remediation Etf ETF A Buy?
Horizon Kinetics Energy Remediation Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.992 Hold/Accumulate Downgraded
Predicted Opening Price for Horizon Kinetics Energy Remediation Etf of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $28.16 ( 0%) | $28.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVIR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.16 | - |
| R2 | 28.16 | - |
| R1 | 28.16 | - |
| Price | 28.16 | |
| S1 | 28.16 | - |
| S2 | 28.16 | - |
| S3 | 28.16 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.74 | 2.06% |
| R2 | 28.70 | 1.92% |
| R1 | 28.60 | 1.57% |
| Price | 28.16 | |
| S1 | 28.07 | -0.316% |
| S2 | 27.99 | -0.601% |
| S3 | 27.95 | -0.743% |
FAQ
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