Oppenheimer Russell 1000 Dynamic ETF Forecast
Oppenheimer Russell 1000 Dynamic ETF price up 1.03% on Thursday
(Updated on May 09, 2024)
The Oppenheimer Russell 1000 Dynamic ETF price gained 1.03% on the last trading day (Thursday, 9th May 2024), rising from $53.39 to $53.94. During the last trading day the ETF fluctuated 1.07% from a day low at $53.37 to a day high of $53.94. The price has risen in 7 of the last 10 days and is up by 3.14% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 401 thousand shares were bought and sold for approximately $21.65 million. 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 lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.50% during the next 3 months and, with a 90% probability hold a price between $52.88 and $57.27 at the end of this 3-month period.
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OMFL Signals & Forecast
Mostly positive signals in the chart today. The Oppenheimer Russell 1000 Dynamic ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $53.00 and $53.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.29%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Oppenheimer Russell 1000 Dynamic ETF
Oppenheimer Russell 1000 Dynamic finds support from accumulated volume at $52.79 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 $0.570 between high and low, or 1.07%. For the last week the ETF has had daily average volatility of 0.85%.
Our recommended stop-loss: $51.45 (-4.62%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (OMFL) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Oppenheimer Russell 1000 Dynamic Multifactor ETF to open at $53.75, and during the day (based on 14 day Average True Range), to move between $53.27 and $54.61, which gives a possible trading interval of +/-$0.668 (+/-1.24%) up or down from last closing price. If Oppenheimer Russell 1000 Dynamic Multifactor ETF takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.33 (0.72%) than the support at $52.79 (2.13%), 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 Oppenheimer Russell 1000 Dynamic Multifactor ETF ETF 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 Oppenheimer Russell 1000 Dynamic ETF to perform well in the short-term.
Current score: 3.491 Buy Candidate Unchanged
Predicted Opening Price for Oppenheimer Russell 1000 Dynamic Multifactor ETF of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
$53.75 ( 0.352%) | $53.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMFL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 54.32 | 0.704 % | |
R2 | 54.10 | 0.301 % | ||
R1 | 53.97 | 0.0514 % | ||
Current price: | 53.94 | |||
Support | S1 | 53.53 | -0.756 % | |
S2 | 53.40 | -1.01 % | ||
S3 | 53.18 | -1.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 54.92 | 1.82 % | |
R2 | 54.89 | 1.76 % | ||
R1 | 54.33 | 0.723 % | ||
Current price | 53.94 | |||
Support | S1 | 52.79 | -2.13% | |
S2 | 52.08 | -3.45% | ||
S3 | 51.09 | -5.28% |
OMFL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.246 | 0.457% |
2 | Dec 15, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.118 | 0.229% |
3 | Sep 15, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.206 | 0.449% |
4 | Jun 16, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.168 | 0.351% |
5 | Mar 17, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.212 | 0.470% |
FAQ
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