Fidelity Nasdaq Composite Index Tracking ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Monday for Fidelity Nasdaq Composite Index Tracking
(Updated on Apr 15, 2024)
The Fidelity Nasdaq Composite Index Tracking ETF price fell by -1.76% on the last day (Monday, 15th Apr 2024) from $63.70 to $62.58. During the last trading day the ETF fluctuated 2.74% from a day low at $62.46 to a day high of $64.17. The price has been going up and down for this period, and there has been a -2.99% loss for the last 2 weeks. Volume has increased on the last day by 256 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, 477 thousand shares were bought and sold for approximately $29.83 million.
Given the current short-term trend, the ETF is expected to rise 7.34% during the next 3 months and, with a 90% probability hold a price between $67.18 and $69.80 at the end of this 3-month period.
ONEQ Signals & Forecast
There are few to no technical positive signals at the moment. The Fidelity Nasdaq Composite Index Tracking ETF 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 $63.83 and $63.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.28%. 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 ETF should be followed more closely.
Support, Risk & Stop-loss for Fidelity Nasdaq Composite Index Tracking ETF
Fidelity Nasdaq Composite Index Tracking finds support from accumulated volume at $61.82 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 $1.71 between high and low, or 2.74%. For the last week the ETF has had daily average volatility of 1.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONEQ) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Fidelity Nasdaq Composite Index Tracking Stock to open at $63.07, and during the day (based on 14 day Average True Range), to move between $61.66 and $63.50, which gives a possible trading interval of +/-$0.92 (+/-1.46%) up or down from last closing price. If Fidelity Nasdaq Composite Index Tracking Stock takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.15 (0.91%) than the support at $61.82 (1.21%), 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 Fidelity Nasdaq Composite Index Tracking Stock ETF A Buy?
The Fidelity Nasdaq Composite Index Tracking ETF 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 ETF.
Current score: -2.220 Sell Candidate Unchanged
Predicted Opening Price for Fidelity Nasdaq Composite Index Tracking Stock of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $63.07 ( 0.783%) | $62.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONEQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.78 | 3.52 % | |
| R2 | 64.13 | 2.47 % | ||
| R1 | 63.72 | 1.83 % | ||
| Current price: | 62.58 | |||
| Support | S1 | 62.42 | -0.261 % | |
| S2 | 62.01 | -0.91 % | ||
| S3 | 61.36 | -1.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.11 | 2.44 % | |
| R2 | 63.92 | 2.14 % | ||
| R1 | 63.15 | 0.91 % | ||
| Current price | 62.58 | |||
| Support | S1 | 61.82 | -1.21% | |
| S2 | 61.59 | -1.58% | ||
| S3 | 60.52 | -3.29% |
ONEQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.112 | 0.174% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Jan 03, 2024 | $0.0160 | 0.0278% |
| 3 | Dec 15, 2023 | Dec 15, 2023 | Dec 20, 2023 | $0.112 | 0.192% |
| 4 | Sep 15, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.100 | 0.189% |
| 5 | Sep 08, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.0900 | 0.168% |
FAQ
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