NEOS NASDAQ-100(R) High Income ETF Forecast

NEOS NASDAQ-100(R) High Income ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

QQQI Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.60%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NEOS NASDAQ-100(R) High Income 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 $50.34. On a fall, the ETF will find some support from the short-term average at $48.83. 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).

Support, Risk & Stop-loss for NEOS NASDAQ-100(R) High Income ETF

NEOS NASDAQ-100(R) High Income finds support from accumulated volume at $49.28 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 $0.562 (1.15%) between high and low. For the last week, the ETF has had daily average volatility of 1.38%.

Our recommended stop-loss: $46.68 (-5.42%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (QQQI) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect NEOS NASDAQ-100(R) High Income ETF to open at $49.27, and during the day (based on 14 day Average True Range), to move between $48.63 and $50.07, which gives a possible trading interval of +/-$0.718 (+/-1.45%) up or down from last closing price. If NEOS NASDAQ-100(R) High Income ETF takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $49.28 (0.14%) than the resistance at $50.53 (2.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NEOS NASDAQ-100(R) High Income ETF ETF A Buy?

NEOS NASDAQ-100(R) High Income 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.211 Hold/Accumulate Upgraded

Predicted Opening Price for NEOS NASDAQ-100(R) High Income ETF of Monday, April 29, 2024

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