RiverFront Strategic Income Fund ETF Forecast
RiverFront Strategic Income Fund ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The RiverFront Strategic Income Fund ETF price fell by -0.154% on the last day (Thursday, 28th Mar 2024) from $22.92 to $22.88. During the last trading day the ETF fluctuated 0.444% from a day low at $22.86 to a day high of $22.96. The price has fallen in 6 of the last 10 days but is still up by 0.18% over the past 2 weeks. Volume has increased on the last day by 32 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 39 thousand shares were bought and sold for approximately $882.78 thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect RiverFront Strategic Income Fund ETF with a 90% probability to be traded between $22.59 and $22.97 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.
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RIGS Signals & Forecast
There are mixed signals in the ETF today. The RiverFront Strategic Income Fund 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 $22.89. On a fall, the ETF will find some support from the short-term average at $22.85. 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). RiverFront Strategic Income Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 0.479%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Thursday, February 29, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.
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 Thursday, February 29, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.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 12 Months
The ETF had a Golden Star Signal on Thursday, February 29, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.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.
Support, Risk & Stop-loss for RiverFront Strategic Income Fund ETF
RiverFront Strategic Income Fund finds support from accumulated volume at $22.87 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 $0.102 between high and low, or 0.444%. For the last week the ETF has had daily average volatility of 1.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RIGS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect RiverFront Strategic Income Fund to open at $22.90, and during the day (based on 14 day Average True Range), to move between $22.66 and $23.10, which gives a possible trading interval of +/-$0.223 (+/-0.97%) up or down from last closing price. If RiverFront Strategic Income Fund takes out the full calculated possible swing range there will be an estimated 1.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.87 (0.04%) than the resistance at $22.90 (0.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RiverFront Strategic Income Fund ETF A Buy?
RiverFront Strategic Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.350 Sell Candidate Downgraded
Predicted Opening Price for RiverFront Strategic Income Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$22.90 ( 0.0897%) | $22.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIGS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.00 | 0.534 % | |
R2 | 22.96 | 0.364 % | ||
R1 | 22.94 | 0.259 % | ||
Current price: | 22.88 | |||
Support | S1 | 22.86 | -0.0799 % | |
S2 | 22.84 | -0.185 % | ||
S3 | 22.80 | -0.354 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.99 | 0.481 % | |
R2 | 22.96 | 0.350 % | ||
R1 | 22.90 | 0.0874 % | ||
Current price | 22.88 | |||
Support | S1 | 22.87 | -0.0437% | |
S2 | 22.84 | -0.175% | ||
S3 | 22.77 | -0.481% |
RIGS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 26, 2024 | $0.0898 | 0.394% |
2 | Jan 15, 2024 | Feb 22, 2024 | Feb 27, 2024 | $0.0716 | 0.314% |
3 | Jan 15, 2024 | Jan 25, 2024 | Jan 30, 2024 | $0.0767 | 0.334% |
4 | Dec 19, 2023 | Dec 19, 2023 | Dec 19, 2023 | $0.0830 | 0.360% |
5 | Oct 25, 2023 | Nov 21, 2023 | Oct 31, 2023 | $0.0710 | 0.325% |
FAQ
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