POWERSHARES DWA ENERGY MOMENTUM ETF Forecast

Green day on Tuesday for POWERSHARES DWA ENERGY MOMENTUM
(Updated on Jun 25, 2024)

PXI Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). POWERSHARES DWA ENERGY MOMENTUM has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The POWERSHARES DWA ENERGY MOMENTUM 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 $47.25. On a fall, the ETF will find some support from the short-term average at $46.34. 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. The ETF had a Golden Star Signal on Tuesday, February 13, 2024 in the long-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 POWERSHARES DWA ENERGY MOMENTUM ETF

POWERSHARES DWA ENERGY MOMENTUM finds support from accumulated volume at $46.85 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 $0.210 between high and low, or 0.448%. For the last week the ETF has had daily average volatility of 0.630%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PXI) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect POWERSHARES DWA ENERGY MOMENTUM PORTFOLIO to open at $47.02, and during the day (based on 14 day Average True Range), to move between $46.43 and $47.75, which gives a possible trading interval of +/-$0.655 (+/-1.39%) up or down from last closing price. If POWERSHARES DWA ENERGY MOMENTUM PORTFOLIO takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $47.31 (0.48%) than the support at $46.85 (0.51%), 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 POWERSHARES DWA ENERGY MOMENTUM PORTFOLIO ETF A Buy?

POWERSHARES DWA ENERGY MOMENTUM holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -1.465 Sell Candidate Unchanged

Predicted Opening Price for POWERSHARES DWA ENERGY MOMENTUM PORTFOLIO of Wednesday, June 26, 2024

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