POWERSHARES DYNAMIC BIOTECHNOLOGY & ETF Forecast
POWERSHARES DYNAMIC BIOTECHNOLOGY & ETF price down 0.424% on Tuesday
(Updated on Jun 25, 2024)
The POWERSHARES DYNAMIC BIOTECHNOLOGY & ETF price fell by -0.424% on the last day (Tuesday, 25th Jun 2024) from $66.11 to $65.83. During the last trading day the ETF fluctuated 0.716% from a day low at $65.83 to a day high of $66.30. The price has fallen in 6 of the last 10 days but is still up by 2.66% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -4 thousand shares and in total, 7 thousand shares were bought and sold for approximately $436.59 thousand.
The ETF lies in the upper part of a 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 $66.15 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 3.86% during the next 3 months and, with a 90% probability hold a price between $63.81 and $68.70 at the end of this 3-month period.
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PBE Signals & Forecast
The POWERSHARES DYNAMIC BIOTECHNOLOGY & 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 $64.60 and $64.21. A breakdown below any of these levels will issue sell signals. 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 Monday, June 24, 2024, and so far it has fallen -0.424%. 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.
Support, Risk & Stop-loss for POWERSHARES DYNAMIC BIOTECHNOLOGY & ETF
POWERSHARES DYNAMIC BIOTECHNOLOGY & finds support from accumulated volume at $62.75 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 therefore the general risk is considered very 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 $0.472 between high and low, or 0.716%. For the last week the ETF has had daily average volatility of 1.09%
Our recommended stop-loss: $63.29 (-3.86%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (PBE) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PORTFOLIO to open at $65.99, and during the day (based on 14 day Average True Range), to move between $65.02 and $66.64, which gives a possible trading interval of +/-$0.81 (+/-1.22%) up or down from last closing price. If POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PORTFOLIO takes out the full calculated possible swing range there will be an estimated 2.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $66.11 (0.43%) than the support at $62.75 (4.69%), 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 POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PORTFOLIO ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for POWERSHARES DYNAMIC BIOTECHNOLOGY & ETF to perform well in the short-term.
Current score: 1.972 Buy Candidate Unchanged
Predicted Opening Price for POWERSHARES DYNAMIC BIOTECHNOLOGY & GENOME PORTFOLIO of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $65.99 ( 0.239%) | $65.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 66.46 | 0.95% |
| R2 | 66.28 | 0.681% |
| R1 | 66.17 | 0.512% |
| Price | 65.83 | |
| S1 | 65.81 | -0.0349% |
| S2 | 65.70 | -0.204% |
| S3 | 65.52 | -0.477% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 66.11 | 0.425% |
| Price | 65.83 | |
| S1 | 62.75 | -4.69% |
| S2 | 61.15 | -7.11% |
| S3 | 60.87 | -7.53% |
PBE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 10, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0242 | 0.0373% |
| 2 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0140 | 0.0227% |
| 3 | Jan 28, 2020 | Mar 23, 2020 | Mar 31, 2020 | $0.0290 | 0.0624% |
| 4 | Sep 21, 2018 | Sep 24, 2018 | Sep 28, 2018 | $0.0020 | 0.0034% |
| 5 | Jul 31, 2017 | Jun 16, 2017 | Jun 30, 2017 | $0.215 | 0.471% |
FAQ
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