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Fidelity Nasdaq Composite Index Tracking Stock Forecast NASDAQ:ONEQ

$58.79 (-1.77%)

Volume: 525k

Closed: Dec 03, 2021

Hollow Logo Score: -2.573

Fidelity Nasdaq Composite Index Tracking Stock Forecast

$58.79 (-1.77%)

Volume: 525k

Closed: Dec 03, 2021

Score Hollow Logo -2.573
Which way will ONEQ go? Request
Key Stats
Beta 1.19
Trailing Dividend Rate 0.55% ($0.32)
Next Dividend Date Dec 17, 2021
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 32 and the stock is currently not being overbought or oversold

Red day on Friday for Fidelity Nasdaq Composite Index Tracking
(Updated on Dec 03, 2021)

Sell candidate since 2021-12-01 Loss -1.04%

The Fidelity Nasdaq Composite Index Tracking stock price fell by -1.77% on the last day (Friday, 3rd Dec 2021) from $59.85 to $58.79. During the day the stock fluctuated 3.62% from a day low at $58.18 to a day high of $60.29. The price has fallen in 6 of the last 10 days and is down by -5.59% for this period. Volume has increased on the last day by 243 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, 525 thousand shares were bought and sold for approximately $30.84 million.

The stock 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 $58.47 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 stock is expected to rise 7.43% during the next 3 months and, with a 90% probability hold a price between $62.81 and $67.78 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Fidelity Nasdaq Composite Index Tracking stock 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 $60.32 and $60.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 19, 2021, and so far it has fallen -5.88%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

Fidelity Nasdaq Composite Index Tracking finds support from accumulated volume at $57.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.11 between high and low, or 3.62%. For the last week the stock has had a daily average volatility of 2.60%.

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

Is Fidelity Nasdaq Composite Index Tracking Stock stock A Buy?

The Fidelity Nasdaq Composite Index Tracking stock holds several negative signals and despite the positive trend, we believe Fidelity Nasdaq Composite Index Tracking will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.573

Predicted Opening Price for Fidelity Nasdaq Composite Index Tracking Stock of Monday, December 6, 2021

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

Fair opening price December 6, 2021 Current price
$59.09 $58.79 (Undervalued)
Sell Candidate Unchanged

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Volatility and Risk
Daily Average Volatility: 2.60 %
Overall Risk: Very High High Medium Low Very Low
2.60 %
Daily Average Volatility
Overall Risk

Very High
Very Low

Support & Resistance

Resistance: $59.26
Price: $58.79
Support: $57.23

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 61.20 4.09 %
60.39 2.72 %
59.89 1.88 %
Current price: 58.79
Support 58.28 -0.86 %
57.78 -1.71 %
56.98 -3.08 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 61.42 4.47 %
60.59 3.06 %
59.26 0.80 %
Current price 58.79
Support 57.23 -2.65%
56.64 -3.66%
55.44 -5.70%

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About Fidelity Nasdaq Composite Index Tracking Stock

The investment seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Composite Index®. The fund normally invests at least 80% of assets in common stocks included in the index. It uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a po... Read more

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