The Meet Kevin Pricing Power ETF Forecast
Weaker technical forecast for The Meet Kevin Pricing Power as ETF downgraded to Hold/Accumulate.
(Updated on May 09, 2024)
The The Meet Kevin Pricing Power ETF price gained 0.0004% on the last trading day (Thursday, 9th May 2024), rising from $26.41 to $26.41. During the last trading day the ETF fluctuated 0.88% from a day low at $26.22 to a day high of $26.45. The price has risen in 6 of the last 10 days and is up by 4.33% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $91.06 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies the upper part of a falling 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 $26.75 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -4.56% during the next 3 months and, with a 90% probability hold a price between $23.23 and $25.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PP Signals & Forecast
The The Meet Kevin Pricing Power 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 $26.28 and $26.20. 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, May 06, 2024, and so far it has fallen -1.51%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The Meet Kevin Pricing Power ETF
The Meet Kevin Pricing Power finds support from accumulated volume at $26.06 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 controlled movements and therefore the general risk is considered 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 $0.230 between high and low, or 0.88%. For the last week the ETF has had daily average volatility of 0.741%.
Our recommended stop-loss: $25.46 (-3.59%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PP) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect The Meet Kevin Pricing Power ETF to open at $26.36, and during the day (based on 14 day Average True Range), to move between $25.99 and $26.83, which gives a possible trading interval of +/-$0.421 (+/-1.59%) up or down from last closing price. If The Meet Kevin Pricing Power ETF takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.50 (0.33%) than the support at $26.06 (1.33%), 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 The Meet Kevin Pricing Power ETF ETF A Buy?
The Meet Kevin Pricing Power 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. 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: -0.539 Hold/Accumulate Downgraded
Predicted Opening Price for The Meet Kevin Pricing Power ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $26.36 ( 0.188%) | $26.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.59 | 0.683 % | |
| R2 | 26.50 | 0.350 % | ||
| R1 | 26.45 | 0.144 % | ||
| Current price: | 26.41 | |||
| Support | S1 | 26.27 | -0.521 % | |
| S2 | 26.22 | -0.727 % | ||
| S3 | 26.13 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.97 | 2.12 % | |
| R2 | 26.96 | 2.08 % | ||
| R1 | 26.50 | 0.331 % | ||
| Current price | 26.41 | |||
| Support | S1 | 26.06 | -1.33% | |
| S2 | 25.31 | -4.15% | ||
| S3 | 24.63 | -6.74% |
PP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.0060 | 0.0230% |
FAQ
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