O'Shares Global Internet Giants ETF Forecast
Red day on Thursday for O'Shares Global Internet Giants
(Updated on Mar 28, 2024)
The O'Shares Global Internet Giants ETF price fell by -0.182% on the last day (Thursday, 28th Mar 2024) from $38.40 to $38.33. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 0.731% from a day low at $38.30 to a day high of $38.58. The price has fallen in 6 of the last 10 days but is still up by 0.29% over the past 2 weeks. Volume has increased on the last day by 33 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, 39 thousand shares were bought and sold for approximately $1.49 million.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $37.90 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 8.35% during the next 3 months and, with a 90% probability hold a price between $41.07 and $44.36 at the end of this 3-month period.
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OGIG 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 O'Shares Global Internet Giants 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 $38.63 and $38.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -2.81%. Further fall is indicated until a new bottom pivot has been found. O'Shares Global Internet Giants gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The ETF had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.
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, March 19, 2024 in the short-term chart.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 O'Shares Global Internet Giants ETF
O'Shares Global Internet Giants finds support from accumulated volume at $38.03 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 $0.280 between high and low, or 0.731%. For the last week the ETF has had daily average volatility of 0.643%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OGIG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect O'Shares Global Internet Giants ETF to open at $38.40, and during the day (based on 14 day Average True Range), to move between $37.82 and $38.84, which gives a possible trading interval of +/-$0.511 (+/-1.33%) up or down from last closing price. If O'Shares Global Internet Giants ETF takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.55 (0.57%) than the support at $38.03 (0.78%), 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 O'Shares Global Internet Giants ETF ETF A Buy?
The O'Shares Global Internet Giants ETF holds several negative signals and despite the positive trend, we believe O'Shares Global Internet Giants will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.010 Sell Candidate Unchanged
Predicted Opening Price for O'Shares Global Internet Giants ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$38.40 ( 0.191%) | $38.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGIG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.68 | 0.92 % | |
R2 | 38.58 | 0.643 % | ||
R1 | 38.51 | 0.470 % | ||
Current price: | 38.33 | |||
Support | S1 | 38.30 | -0.0877 % | |
S2 | 38.23 | -0.260 % | ||
S3 | 38.12 | -0.539 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.05 | 1.88 % | |
R2 | 38.97 | 1.67 % | ||
R1 | 38.55 | 0.574 % | ||
Current price | 38.33 | |||
Support | S1 | 38.03 | -0.783% | |
S2 | 35.85 | -6.47% | ||
S3 | 35.73 | -6.78% |
FAQ
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