PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR ETF Forecast

Red day on Friday for PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR ETF after losing 0.0175%
(Updated on May 17, 2024)

PSC Signals & Forecast

The PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR 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 $48.89 and $47.80. 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 Wednesday, May 15, 2024, and so far it has fallen -0.722%. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -10.95% to $43.69 within 33 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR ETF

PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR finds support from accumulated volume at $48.76 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 $0.220 between high and low, or 0.450%. For the last week the ETF has had daily average volatility of 0.479%.

Our recommended stop-loss: $47.11 (-3.98%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (PSC) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF to open at $49.05, and during the day (based on 14 day Average True Range), to move between $48.53 and $49.59, which gives a possible trading interval of +/-$0.526 (+/-1.07%) up or down from last closing price. If PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF takes out the full calculated possible swing range there will be an estimated 2.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $49.07 (0.02%) than the support at $48.76 (0.61%), 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 PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF 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 PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR ETF to perform well in the short-term period.

Current score: 1.828 Buy Candidate Unchanged

Predicted Opening Price for PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF PRINCIPAL U.S. SMALL-CAP MULTI-FACTOR INDEX ETF of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.