QRAFT AI-Enhanced U.S. Large Cap ETF Forecast

QRAFT AI-Enhanced U.S. Large Cap ETF price up 0.127% on Thursday
(Updated on May 09, 2024)

QRFT Signals & Forecast

The QRAFT AI-Enhanced U.S. Large Cap 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 $47.36 and $47.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.48%. 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). QRAFT AI-Enhanced U.S. Large Cap 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for QRAFT AI-Enhanced U.S. Large Cap ETF

QRAFT AI-Enhanced U.S. Large Cap finds support from accumulated volume at $47.84 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 $0.0190 between high and low, or 0.0396%. For the last week the ETF has had daily average volatility of 0.0833%.

The QRAFT AI-Enhanced U.S. Large Cap ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $45.65 (-4.80%) (This ETF has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (QRFT) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect QRAFT AI-Enhanced U.S. Large Cap ETF to open at $47.96, and during the day (based on 14 day Average True Range), to move between $47.61 and $48.29, which gives a possible trading interval of +/-$0.339 (+/-0.71%) up or down from last closing price. If QRAFT AI-Enhanced U.S. Large Cap ETF takes out the full calculated possible swing range there will be an estimated 1.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $47.84 (0.23%) than the resistance at $48.25 (0.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is QRAFT AI-Enhanced U.S. Large Cap ETF ETF A Buy?

QRAFT AI-Enhanced U.S. Large Cap 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.

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 QRAFT AI-Enhanced U.S. Large Cap ETF of Friday, May 10, 2024

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