Roundhill Glp-1 & Weight Loss Etf ETF Forecast
Roundhill Glp-1 & Weight Loss Etf ETF price up 1.31% on Tuesday
(Updated on Jun 25, 2024)
The Roundhill Glp-1 & Weight Loss Etf ETF price gained 1.31% on the last trading day (Tuesday, 25th Jun 2024), rising from $26.62 to $26.97. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.29% from a day low at $26.80 to a day high of $27.15. The price has risen in 6 of the last 10 days and is up by 3.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately $2.11 million.
The ETF lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $27.12 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 6.71% during the next 3 months and, with a 90% probability hold a price between $27.97 and $28.94 at the end of this 3-month period.
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OZEM Signals & Forecast
The Roundhill Glp-1 & Weight Loss Etf ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $26.24 and $25.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 4.17%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Roundhill Glp-1 & Weight Loss Etf ETF
Roundhill Glp-1 & Weight Loss Etf finds support from accumulated volume at $25.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.346 (1.29%) between high and low. For the last week, the ETF has had daily average volatility of 1.17%.
Our recommended stop-loss: $25.78 (-4.42%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (OZEM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Roundhill Glp-1 & Weight Loss Etf to open at $26.97, and during the day (based on 14 day Average True Range), to move between $26.59 and $27.35, which gives a possible trading interval of +/-$0.375 (+/-1.39%) up or down from last closing price. If Roundhill Glp-1 & Weight Loss Etf takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.74, some $1.23 (4.54%) from the current price of $26.97, our system finds the risk reward attractive.
Is Roundhill Glp-1 & Weight Loss Etf ETF A Buy?
Roundhill Glp-1 & Weight Loss Etf 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Roundhill Glp-1 & Weight Loss Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $26.97 ( 0.0168%) | $26.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OZEM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.32 | 1.30% |
| R2 | 27.19 | 0.81% |
| R1 | 27.11 | 0.507% |
| Price | 26.97 | |
| S1 | 26.84 | -0.474% |
| S2 | 26.76 | -0.777% |
| S3 | 26.63 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 26.97 | |
| S1 | 25.74 | -4.54% |
| S2 | 25.61 | -5.04% |
| S3 | 25.00 | -7.30% |
FAQ
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