PowerShares Nasdaq Internet Portfolio ETF Forecast
Red day on Wednesday for PowerShares Nasdaq Internet Portfolio
(Updated on Apr 24, 2024)
The PowerShares Nasdaq Internet Portfolio ETF price fell by -0.401% on the last day (Wednesday, 24th Apr 2024) from $38.93 to $38.77. During the last trading day the ETF fluctuated 1.69% from a day low at $38.55 to a day high of $39.20. The price has fallen in 6 of the last 10 days and is down by -2.95% 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 -19 thousand shares and in total, 49 thousand shares were bought and sold for approximately $1.89 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 3.76% during the next 3 months and, with a 90% probability hold a price between $39.25 and $42.21 at the end of this 3-month period.
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PNQI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.67%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PowerShares Nasdaq Internet Portfolio ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $39.53. On a fall, the ETF will find some support from the short-term average at $38.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PowerShares Nasdaq Internet Portfolio ETF
PowerShares Nasdaq Internet Portfolio finds support from accumulated volume at $38.72 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 $0.650 (1.69%) between high and low. For the last week, the ETF has had daily average volatility of 1.70%.
Our recommended stop-loss: $36.75 (-5.21%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (PNQI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PowerShares Nasdaq Internet Portfolio to open at $38.84, and during the day (based on 14 day Average True Range), to move between $38.15 and $39.39, which gives a possible trading interval of +/-$0.624 (+/-1.61%) up or down from last closing price. If PowerShares Nasdaq Internet Portfolio takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.72 (0.13%) than the resistance at $38.89 (0.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PowerShares Nasdaq Internet 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 Nasdaq Internet Portfolio ETF to perform well in the short-term.
Current score: 1.301 Buy Candidate Unchanged
Predicted Opening Price for PowerShares Nasdaq Internet Portfolio of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $38.84 ( 0.181%) | $38.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNQI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.49 | 1.86 % | |
| R2 | 39.24 | 1.22 % | ||
| R1 | 39.09 | 0.82 % | ||
| Current price: | 38.77 | |||
| Support | S1 | 38.59 | -0.460 % | |
| S2 | 38.44 | -0.86 % | ||
| S3 | 38.19 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.55 | 2.01 % | |
| R2 | 38.92 | 0.387 % | ||
| R1 | 38.89 | 0.310 % | ||
| Current price | 38.77 | |||
| Support | S1 | 38.72 | -0.129% | |
| S2 | 38.30 | -1.21% | ||
| S3 | 38.12 | -1.68% |
PNQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2017 | Dec 18, 2017 | Dec 29, 2017 | $0.0270 | 0.117% |
| 2 | Dec 21, 2012 | Dec 21, 2012 | Dec 31, 2012 | $0.0220 | 0.265% |
| 3 | Dec 19, 2008 | Dec 19, 2008 | Dec 31, 2008 | $0.0130 | 0.473% |
FAQ
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