Advisorshares Psychedelics Etf ETF Forecast

Advisorshares Psychedelics Etf ETF price ended at $1.06 on Tuesday, after losing 0.93%.
(Updated on Jun 18, 2024)

PSIL Signals & Forecast

There are few to no technical positive signals at the moment. The Advisorshares Psychedelics Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.08 and $1.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Advisorshares Psychedelics Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Advisorshares Psychedelics Etf ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $0.0100 between high and low, or 0.94%. For the last week the ETF has had daily average volatility of 1.68%.

Advisorshares Psychedelics Etf is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $1.01 (-4.65%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 6 which reduces the risk some. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (PSIL) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Advisorshares Psychedelics Etf to open at $1.06, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.10, which gives a possible trading interval of +/-$0.0361 (+/-3.41%) up or down from last closing price. If Advisorshares Psychedelics Etf takes out the full calculated possible swing range there will be an estimated 6.81% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.08, some $0.0200 (1.89%) from the current price of $1.06, our system finds the risk reward not very attractive.

Is Advisorshares Psychedelics Etf ETF A Buy?

Advisorshares Psychedelics 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Advisorshares Psychedelics Etf of Thursday, June 20, 2024

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