AccuShares S&P GSCI Crude Oil Excess Stock Forecast

Weaker technical forecast for AccuShares S&P GSCI Crude Oil Excess as stock downgraded to Strong Sell Candidate.
(Updated on Jun 25, 2024)

OILD Signals & Forecast

There are few to no technical positive signals at the moment. The AccuShares S&P GSCI Crude Oil Excess stock 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 $16.19 and $15.30. 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 14, 2024, and so far it has fallen -12.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). AccuShares S&P GSCI Crude Oil Excess 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".

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

AccuShares S&P GSCI Crude Oil Excess finds support from accumulated volume at $14.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.355 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 4.82%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (OILD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect AccuShares S&P GSCI Crude Oil Excess Return Down Shares to open at $15.07, and during the day (based on 14 day Average True Range), to move between $14.22 and $15.68, which gives a possible trading interval of +/-$0.728 (+/-4.87%) 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 9.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.47 (3.48%) than the support at $14.38 (3.80%), 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?

The AccuShares S&P GSCI Crude Oil Excess stock holds several negative signals and despite the positive trend, we believe AccuShares S&P GSCI Crude Oil Excess will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.534 Strong Sell Candidate Downgraded

Predicted Opening Price for AccuShares S&P GSCI Crude Oil Excess Return Down Shares of Wednesday, June 26, 2024

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