Putnam Sustainable Future Etf ETF Forecast
Weaker technical forecast for Putnam Sustainable Future Etf as ETF downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Putnam Sustainable Future Etf ETF price fell by -0.328% on the last day (Friday, 28th Jun 2024) from $24.41 to $24.33. During the last trading day the ETF fluctuated 0.99% from a day low at $24.33 to a day high of $24.57. The price has been going up and down for this period, and there has been a -1.1% loss for the last 2 weeks. Volume has increased on the last day by 132 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, 155 thousand shares were bought and sold for approximately $3.77 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Putnam Sustainable Future Etf ETF with a 90% probability to be traded between $24.44 and $25.20 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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PFUT Signals & Forecast
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 Putnam Sustainable Future Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.47 and $24.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.93%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Thursday, June 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Thursday, June 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Putnam Sustainable Future Etf ETF
Putnam Sustainable Future Etf finds support from accumulated volume at $24.25 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 $0.240 between high and low, or 0.99%. For the last week the ETF has had daily average volatility of 0.454%.
Our recommended stop-loss: $23.58 (-3.08%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (PFUT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Putnam Sustainable Future Etf to open at $24.41, and during the day (based on 14 day Average True Range), to move between $24.12 and $24.54, which gives a possible trading interval of +/-$0.206 (+/-0.85%) up or down from last closing price. If Putnam Sustainable Future Etf takes out the full calculated possible swing range there will be an estimated 1.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.37 (0.17%) than the support at $24.25 (0.33%), 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 Putnam Sustainable Future Etf ETF A Buy?
Putnam Sustainable Future Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.870 Hold/Accumulate Downgraded
Predicted Opening Price for Putnam Sustainable Future Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $24.41 ( 0.329%) | $24.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFUT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.65 | 1.32% |
| R2 | 24.56 | 0.94% |
| R1 | 24.50 | 0.706% |
| Price | 24.33 | |
| S1 | 24.32 | -0.0480% |
| S2 | 24.26 | -0.281% |
| S3 | 24.17 | -0.658% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.48 | 0.617% |
| R2 | 24.44 | 0.452% |
| R1 | 24.37 | 0.169% |
| Price | 24.33 | |
| S1 | 24.25 | -0.329% |
| S2 | 24.19 | -0.575% |
| S3 | 24.07 | -1.07% |
FAQ
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