KraneShares MSCI One Belt One Road Index ETF Forecast

KraneShares MSCI One Belt One Road Index ETF price up 0.95% on Friday
(Updated on May 17, 2024)

OBOR Signals & Forecast

The KraneShares MSCI One Belt One Road Index 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 $22.07 and $21.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 5.91%. 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). KraneShares MSCI One Belt One Road Index has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for KraneShares MSCI One Belt One Road Index ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $20.90 and $20.90. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, KraneShares MSCI One Belt One Road Index finds support just below today's level at $20.90. If this is broken, then the next support from accumulated volume will be at $20.90 and $20.63.

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 $0.0780 between high and low, or 0.350%. For the last week the ETF has had daily average volatility of 0.296%.

The KraneShares MSCI One Belt One Road Index ETF is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken. Since the KraneShares MSCI One Belt One Road Index has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $21.39 (-4.41%) (This ETF has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (OBOR) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect KraneShares MSCI One Belt One Road Index ETF to open at $22.35, and during the day (based on 14 day Average True Range), to move between $22.25 and $22.50, which gives a possible trading interval of +/-$0.123 (+/-0.55%) up or down from last closing price. If KraneShares MSCI One Belt One Road Index ETF takes out the full calculated possible swing range there will be an estimated 1.10% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $20.90, some $1.47 (6.59%) from the current price of $22.38, our system finds the risk reward attractive.

Is KraneShares MSCI One Belt One Road Index ETF ETF A Buy?

KraneShares MSCI One Belt One Road Index 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for KraneShares MSCI One Belt One Road Index ETF of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.