Ishares Omx Stockholm Capped Ucits Etf ETF Forecast
Red day on Tuesday for Ishares Omx Stockholm Capped Ucits Etf ETF after losing 0.0387%
(Updated on Jun 25, 2024)
The Ishares Omx Stockholm Capped Ucits Etf ETF price fell by -0.0387% on the last day (Tuesday, 25th Jun 2024) from £646.00 to £645.75. During the last trading day the ETF fluctuated 1.51% from a day low at £645.25 to a day high of £655.00. The price has fallen in 5 of the last 10 days and is down by -1.2% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -76 thousand shares and in total, 17 thousand shares were bought and sold for approximately £11.07 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 £638.88 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 6.47% during the next 3 months and, with a 90% probability hold a price between £680.22 and £719.15 at the end of this 3-month period.
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OMXS.L Signals & Forecast
There are few to no technical positive signals at the moment. The Ishares Omx Stockholm Capped Ucits Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £646.71 and £649.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -3.60%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ishares Omx Stockholm Capped Ucits Etf ETF
Ishares Omx Stockholm Capped Ucits Etf finds support from accumulated volume at £643.25 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 £9.75 between high and low, or 1.51%. For the last week the ETF has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OMXS.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Ishares Omx Stockholm Capped Ucits Etf to open at £648.67, and during the day (based on 14 day Average True Range), to move between £636.56 and £654.94, which gives a possible trading interval of +/-£9.19 (+/-1.42%) up or down from last closing price. If Ishares Omx Stockholm Capped Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £643.25 (0.39%) than the resistance at £651.25 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ishares Omx Stockholm Capped Ucits Etf ETF A Buy?
The Ishares Omx Stockholm Capped Ucits Etf ETF holds several negative signals and despite the positive trend, we believe Ishares Omx Stockholm Capped Ucits Etf will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.151 Sell Candidate Unchanged
Predicted Opening Price for Ishares Omx Stockholm Capped Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £648.67 ( 0.452%) | £645.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMXS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 658.42 | 1.96% |
| R2 | 654.69 | 1.38% |
| R1 | 652.39 | 1.03% |
| Price | 645.75 | |
| S1 | 644.94 | -0.125% |
| S2 | 642.64 | -0.481% |
| S3 | 638.92 | -1.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 660.25 | 2.25% |
| R2 | 653.00 | 1.12% |
| R1 | 651.25 | 0.85% |
| Price | 645.75 | |
| S1 | 643.25 | -0.387% |
| S2 | 642.50 | -0.503% |
| S3 | 619.63 | -4.04% |
FAQ
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