Russell Investments Australian ETF Forecast
Russell Investments Australian ETF downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)
The Russell Investments Australian ETF price gained 0.330% on the last trading day (Friday, 21st Jun 2024), rising from A$27.31 to A$27.40. During the last trading day the ETF fluctuated 0.329% from a day low at A$27.34 to a day high of A$27.43. The price has been going up and down for this period, and there has been a -0.29% loss for the last 2 weeks. Volume fell on the last day by -78 thousand shares and in total, 6 thousand shares were bought and sold for approximately A$167.80 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at A$27.57 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Russell Investments Australian ETF with a 90% probability to be traded between A$26.05 and A$27.37 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RARI.AX Signals & Forecast
The Russell Investments Australian 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 A$27.23 and A$27.17. 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 Friday, June 07, 2024, and so far it has fallen -0.544%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-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.
Golden Star
The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-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.
A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -4.18% to A$26.26 within 16 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Russell Investments Australian ETF
Russell Investments Australian finds support from accumulated volume at A$27.31 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0.0900 between high and low, or 0.329%. For the last week the ETF has had daily average volatility of 0.250%
Our recommended stop-loss: A$26.50 (-3.27%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (RARI.AX) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Russell Investments Australian Responsible Investment ETF to open at A$27.39, and during the day (based on 14 day Average True Range), to move between A$27.22 and A$27.58, which gives a possible trading interval of +/-A$0.182 (+/-0.66%) up or down from last closing price. If Russell Investments Australian Responsible Investment ETF takes out the full calculated possible swing range there will be an estimated 1.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$27.31 (0.33%) than the resistance at A$27.57 (0.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Russell Investments Australian Responsible Investment ETF ETF A Buy?
Russell Investments Australian 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: -0.306 Hold/Accumulate Downgraded
Predicted Opening Price for Russell Investments Australian Responsible Investment ETF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| A$27.39 ( 0.0365%) | A$27.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RARI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.48 | 0.292% |
| R2 | 27.45 | 0.166% |
| R1 | 27.42 | 0.0890% |
| Price | 27.40 | |
| S1 | 27.36 | -0.162% |
| S2 | 27.33 | -0.239% |
| S3 | 27.30 | -0.365% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.72 | 1.17% |
| R2 | 27.65 | 0.91% |
| R1 | 27.57 | 0.620% |
| Price | 27.40 | |
| S1 | 27.31 | -0.328% |
| S2 | 27.17 | -0.84% |
| S3 | 26.84 | -2.04% |
RARI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2023 | Dec 29, 2023 | Dec 29, 2023 | A$0.509 | 1.97% |
| 2 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | A$0.485 | 1.98% |
| 3 | Dec 30, 2022 | Dec 30, 2022 | Dec 30, 2022 | A$0.488 | 2.01% |
| 4 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | A$0.397 | 1.72% |
| 5 | Dec 31, 2021 | Dec 31, 2021 | Dec 31, 2021 | A$0.492 | 1.85% |
FAQ
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