O ETF Forecast
O ETF downgraded to Sell Candidate
(Updated on May 01, 2024)
The O ETF price fell by -0.361% on the last day (Wednesday, 1st May 2024) from $47.06 to $46.89. During the last trading day the ETF fluctuated 1.17% from a day low at $46.84 to a day high of $47.39. The price has risen in 5 of the last 10 days and is up by 0.02% over the past 2 weeks. Volume has increased on the last day by 6 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, 29 thousand shares were bought and sold for approximately $1.35 million.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $46.77 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect O ETF with a 90% probability to be traded between $46.26 and $48.67 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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OUSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.0747%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The O 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 $47.31 and $48.08. A break-up above any of these levels will issue buy signals. O 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 O ETF
O finds support from accumulated volume at $46.88 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 $0.550 between high and low, or 1.17%. For the last week the ETF has had daily average volatility of 0.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OUSA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect O to open at $47.04, and during the day (based on 14 day Average True Range), to move between $46.46 and $47.32, which gives a possible trading interval of +/-$0.428 (+/-0.91%) up or down from last closing price. If O takes out the full calculated possible swing range there will be an estimated 1.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.88 (0.02%) than the resistance at $47.12 (0.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is O ETF A Buy?
O holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.526 Sell Candidate Downgraded
Predicted Opening Price for O of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$47.04 ( 0.320%) | $46.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OUSA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.59 | 1.49 % | |
R2 | 47.38 | 1.04 % | ||
R1 | 47.25 | 0.768 % | ||
Current price: | 46.89 | |||
Support | S1 | 46.83 | -0.128 % | |
S2 | 46.70 | -0.405 % | ||
S3 | 46.49 | -0.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.88 | 2.11 % | |
R2 | 47.67 | 1.66 % | ||
R1 | 47.12 | 0.491 % | ||
Current price | 46.89 | |||
Support | S1 | 46.88 | -0.0213% | |
S2 | 46.86 | -0.0746% | ||
S3 | 0 | . |
OUSA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Apr 25, 2024 | Apr 30, 2024 | $0.0643 | 0.137% |
2 | Mar 21, 2024 | Mar 21, 2024 | Mar 26, 2024 | $0.0598 | 0.123% |
3 | Feb 22, 2024 | Feb 22, 2024 | Feb 27, 2024 | $0.0713 | 0.148% |
4 | Jan 25, 2024 | Jan 25, 2024 | Jan 30, 2024 | $0.0712 | 0.150% |
5 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0700 | 0.153% |
FAQ
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