Picton Mahoney Fortified Market Neutral ETF Forecast
Picton Mahoney Fortified Market Neutral ETF price ended at $14.45 on Tuesday, after losing 0.311%.
(Updated on Jun 25, 2024)
The Picton Mahoney Fortified Market Neutral ETF price fell by -0.311% on the last day (Tuesday, 25th Jun 2024) from $14.49 to $14.45. During the last trading day the ETF fluctuated 0.416% from a day low at $14.43 to a day high of $14.49. The price has fallen in 5 of the last 10 days and is down by -0.03% for this period. 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 -500 shares and in total, 12 thousand shares were bought and sold for approximately $179.12 thousand.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $14.43 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Picton Mahoney Fortified Market Neutral ETF with a 90% probability to be traded between $14.56 and $14.68 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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PFMN.TO Signals & Forecast
The Picton Mahoney Fortified Market Neutral 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 $14.49. On a fall, the ETF will find some support from the long-term average at approximately $14.43. 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, June 19, 2024, and so far it has fallen -0.517%. 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.
A sell signal from a double top formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should fall by -0.450% to $14.38 within 8 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Picton Mahoney Fortified Market Neutral ETF
Picton Mahoney Fortified Market Neutral finds support from accumulated volume at $14.43 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 $0.0600 between high and low, or 0.416%. For the last week the ETF has had daily average volatility of 0.429%
Our recommended stop-loss: $13.86 (-4.05%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (PFMN.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Picton Mahoney Fortified Market Neutral Alternative Fund to open at $14.46, and during the day (based on 14 day Average True Range), to move between $14.38 and $14.51, which gives a possible trading interval of +/-$0.0685 (+/-0.47%) up or down from last closing price. If Picton Mahoney Fortified Market Neutral Alternative Fund takes out the full calculated possible swing range there will be an estimated 0.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.45 (0.03%) than the support at $14.43 (0.10%), 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 Picton Mahoney Fortified Market Neutral Alternative Fund ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Picton Mahoney Fortified Market Neutral ETF to perform well in the short-term period.
Current score: 3.167 Buy Candidate Unchanged
Predicted Opening Price for Picton Mahoney Fortified Market Neutral Alternative Fund of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $14.46 ( 0.0692%) | $14.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFMN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.52 | 0.485% |
| R2 | 14.49 | 0.326% |
| R1 | 14.48 | 0.228% |
| Price | 14.45 | |
| S1 | 14.43 | -0.0894% |
| S2 | 14.42 | -0.187% |
| S3 | 14.40 | -0.346% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.52 | 0.519% |
| R2 | 14.49 | 0.312% |
| R1 | 14.45 | 0.0346% |
| Price | 14.45 | |
| S1 | 14.43 | -0.104% |
| S2 | 14.41 | -0.242% |
| S3 | 14.36 | -0.588% |
FAQ
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