Pickens Morningstar Renewable Energy ETF Forecast
Green day on Tuesday for Pickens Morningstar Renewable Energy
(Updated on Jun 18, 2024)
The Pickens Morningstar Renewable Energy ETF price gained 0.530% on the last trading day (Tuesday, 18th Jun 2024), rising from $13.21 to $13.28. During the last trading day the ETF fluctuated 0% from a day low at $13.28 to a day high of $13.28. The price has fallen in 7 of the last 10 days and is down by -6.36% for this period. Volume fell on the last day by -18 shares and in total, 100 shares were bought and sold for approximately $1.33 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.
Given the current short-term trend, the ETF is expected to fall -6.91% during the next 3 months and, with a 90% probability hold a price between $12.18 and $12.36 at the end of this 3-month period. 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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RENW Signals & Forecast
There are few to no technical positive signals at the moment. The Pickens Morningstar Renewable Energy ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.50 and $13.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 30, -1. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pickens Morningstar Renewable Energy ETF
Pickens Morningstar Renewable Energy finds support from accumulated volume at $13.21 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 $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.326%
Pickens Morningstar Renewable Energy is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $0.660 (-5.00%) (Unable to calculate.)
Trading Expectations (RENW) For The Upcoming Trading Day Of Thursday 20th
Since the stock is closer to the resistance from accumulated volume at $13.32 (0.30%) than the support at $13.21 (0.53%), 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 Pickens Morningstar Renewable Energy Response Etf ETF A Buy?
Pickens Morningstar Renewable Energy holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Pickens Morningstar Renewable Energy Response Etf of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $13.28 ( 0%) | $13.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RENW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.28 | - |
| R2 | 13.28 | - |
| R1 | 13.28 | - |
| Price | 13.28 | |
| S1 | 13.28 | - |
| S2 | 13.28 | - |
| S3 | 13.28 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.02 | 5.55% |
| R2 | 13.58 | 2.22% |
| R1 | 13.32 | 0.302% |
| Price | 13.28 | |
| S1 | 13.21 | -0.527% |
| S2 | 0 | - |
| S3 | 0 | - |
RENW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 21, 2023 | Dec 27, 2023 | $0.444 | 3.39% |
| 2 | Dec 20, 2022 | Dec 21, 2022 | Dec 27, 2022 | $0.132 | 0.687% |
FAQ
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