AccuShares S&P GSCI Crude Oil Excess Stock Forecast

AccuShares S&P GSCI Crude Oil Excess stock downgraded to Buy Candidate
(Updated on Jun 17, 2024)

OILD Signals & Forecast

The AccuShares S&P GSCI Crude Oil Excess stock 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 $16.36 and $15.10. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.525%. 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 stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for AccuShares S&P GSCI Crude Oil Excess stock

On the downside, the stock finds support just below today's level from accumulated volume at $16.03 and $15.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AccuShares S&P GSCI Crude Oil Excess finds support just below today's level at $16.03. If this is broken, then the next support from accumulated volume will be at $15.05 and $14.06.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.500 between high and low, or 2.97%. For the last week the stock has had daily average volatility of 3.97%.

Our recommended stop-loss: $16.38 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (OILD) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect AccuShares S&P GSCI Crude Oil Excess Return Down Shares to open at $17.07, and during the day (based on 14 day Average True Range), to move between $16.39 and $17.71, which gives a possible trading interval of +/-$0.665 (+/-3.90%) up or down from last closing price. If AccuShares S&P GSCI Crude Oil Excess Return Down Shares takes out the full calculated possible swing range there will be an estimated 7.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.14 (0.53%) than the support at $16.03 (5.98%), 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 AccuShares S&P GSCI Crude Oil Excess Return Down Shares stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AccuShares S&P GSCI Crude Oil Excess stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.165 Buy Candidate Downgraded

Predicted Opening Price for AccuShares S&P GSCI Crude Oil Excess Return Down Shares of Tuesday, June 18, 2024

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