AXS Short Innovation Daily ETF Forecast
Red day on Wednesday for AXS Short Innovation Daily
(Updated on Jul 03, 2024)
The AXS Short Innovation Daily ETF price fell by -1.67% on the last day (Wednesday, 3rd Jul 2024) from $29.98 to $29.48. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 2.22% from a day low at $29.25 to a day high of $29.90. The price has fallen in 6 of the last 10 days and is down by -3.97% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -97 thousand shares and in total, 344 thousand shares were bought and sold for approximately $10.13 million.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $29.57. A reaction back to this level may hold a second chance to get out before further falls.
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SARK Signals & Forecast
There are few to no technical positive signals at the moment. The AXS Short Innovation Daily ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $30.36 and $30.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -6.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for AXS Short Innovation Daily ETF
AXS Short Innovation Daily finds support from accumulated volume at $29.47 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 $0.650 between high and low, or 2.22%. For the last week the ETF has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SARK) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect AXS Short Innovation Daily ETF to open at $29.54, and during the day (based on 14 day Average True Range), to move between $28.82 and $30.14, which gives a possible trading interval of +/-$0.656 (+/-2.22%) up or down from last closing price. If AXS Short Innovation Daily ETF takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.47 (0.03%) than the resistance at $30.59 (3.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AXS Short Innovation Daily ETF ETF A Buy?
The AXS Short Innovation Daily ETF holds several negative signals and despite the positive trend, we believe AXS Short Innovation Daily will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.227 Sell Candidate Unchanged
Predicted Opening Price for AXS Short Innovation Daily ETF of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $29.54 ( 0.215%) | $29.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SARK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.19 | 2.42% |
| R2 | 29.95 | 1.58% |
| R1 | 29.79 | 1.06% |
| Price | 29.48 | |
| S1 | 29.30 | -0.627% |
| S2 | 29.14 | -1.15% |
| S3 | 28.89 | -1.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.93 | 8.31% |
| R2 | 30.75 | 4.31% |
| R1 | 30.59 | 3.77% |
| Price | 29.48 | |
| S1 | 29.47 | -0.0339% |
| S2 | 28.88 | -2.04% |
| S3 | 28.34 | -3.87% |
SARK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 26, 2023 | Dec 26, 2023 | Dec 29, 2023 | $3.26 | 12.57% |
| 2 | Dec 23, 2022 | Dec 27, 2022 | Dec 29, 2022 | $13.75 | 25.12% |
FAQ
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