O’Shares U.S. Small-Cap Quality ETF Forecast

O’Shares U.S. Small-Cap Quality ETF price down 0.83% on Wednesday
(Updated on May 22, 2024)

OUSM Signals & Forecast

The O’Shares U.S. Small-Cap Quality ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $42.16. On a fall, the ETF will find some support from the long-term average at approximately $41.07. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.51%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -8.92% to $38.08 within 33 trading days since signal was issued (Thursday, May 23, 2024).

Support, Risk & Stop-loss for O’Shares U.S. Small-Cap Quality ETF

O’Shares U.S. Small-Cap Quality finds support from accumulated volume at $41.73 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.640 between high and low, or 1.54%. For the last week the ETF has had daily average volatility of 0.691%.

Our recommended stop-loss: $40.27 (-3.69%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (OUSM) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect O’Shares U.S. Small-Cap Quality Dividend ETF to open at $41.92, and during the day (based on 14 day Average True Range), to move between $41.42 and $42.20, which gives a possible trading interval of +/-$0.392 (+/-0.94%) up or down from last closing price. If O’Shares U.S. Small-Cap Quality Dividend ETF takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $41.73 (0.19%) than the resistance at $42.20 (0.93%), 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’Shares U.S. Small-Cap Quality Dividend ETF ETF A Buy?

O’Shares U.S. Small-Cap Quality holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.940 Hold/Accumulate Unchanged

Predicted Opening Price for O’Shares U.S. Small-Cap Quality Dividend ETF of Thursday, May 23, 2024

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