NEOS NASDAQ-100(R) High Income ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for NEOS NASDAQ-100(R) High Income as ETF downgraded to Hold/Accumulate.
(Updated on May 08, 2024)
No changes to the price of NEOS NASDAQ-100(R) High Income ETF on the last trading day (Wednesday, 8th May 2024). During the last trading day the ETF fluctuated 0.612% from a day low at $49.85 to a day high of $50.16. The price has risen in 6 of the last 10 days and is up by 2.41% over the past 2 weeks.
The ETFhas broken the narrow and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $50.03, a level that may pose a second chance to hit a runner. According to fan-theory $52.33 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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QQQI Signals & Forecast
The NEOS NASDAQ-100(R) High Income ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $49.39 and $50.02. 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 Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for NEOS NASDAQ-100(R) High Income ETF
NEOS NASDAQ-100(R) High Income finds support from accumulated volume at $49.35 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 $0.305 between high and low, or 0.612%. For the last week the ETF has had daily average volatility of 0.675%.
Our recommended stop-loss: $48.14 (-3.84%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (QQQI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect NEOS NASDAQ-100(R) High Income ETF to open at $50.02, and during the day (based on 14 day Average True Range), to move between $49.44 and $50.68, which gives a possible trading interval of +/-$0.622 (+/-1.24%) 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 2.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.53 (0.94%) than the support at $49.35 (1.42%), 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 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. 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: 0.125 Hold/Accumulate Downgraded
Predicted Opening Price for NEOS NASDAQ-100(R) High Income ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $50.02 ( 0.0765%) | $50.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.33 | 0.533 % | |
| R2 | 50.21 | 0.300 % | ||
| R1 | 50.14 | 0.156 % | ||
| Current price: | 50.06 | |||
| Support | S1 | 49.91 | -0.309 % | |
| S2 | 49.83 | -0.453 % | ||
| S3 | 49.72 | -0.686 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.98 | 1.84 % | |
| R2 | 50.84 | 1.56 % | ||
| R1 | 50.53 | 0.94 % | ||
| Current price | 50.06 | |||
| Support | S1 | 49.35 | -1.42% | |
| S2 | 49.28 | -1.56% | ||
| S3 | 48.88 | -2.36% |
QQQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | Apr 24, 2024 | $0.587 | 1.20% |
| 2 | Mar 19, 2024 | Mar 20, 2024 | Mar 22, 2024 | $0.605 | 1.18% |
| 3 | Feb 20, 2024 | Feb 21, 2024 | Feb 23, 2024 | $0.594 | 1.18% |
FAQ
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