Schwab U.S. Broad Market ETF Forecast

Green day on Monday for Schwab U.S. Broad Market ETF after gaining 0.162%
(Updated on May 20, 2024)

SCHB Signals & Forecast

Mostly positive signals in the chart today. The Schwab U.S. Broad Market 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 $61.24 and $59.72. 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 7.17%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Schwab U.S. Broad Market ETF

Schwab U.S. Broad Market finds support from accumulated volume at $60.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.275 (0.447%) between high and low. For the last week, the ETF has had daily average volatility of 0.585%.

The Schwab U.S. Broad Market ETF is extremely overbought on RSI14 (91). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $59.74 (-3.18%) (This ETF has low daily movements and this gives low risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)

Trading Expectations (SCHB) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Schwab U.S. Broad Market ETF to open at $61.70, and during the day (based on 14 day Average True Range), to move between $61.16 and $62.24, which gives a possible trading interval of +/-$0.542 (+/-0.88%) up or down from last closing price. If Schwab U.S. Broad Market ETF takes out the full calculated possible swing range there will be an estimated 1.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $60.46, some $1.24 (2.01%) from the current price of $61.70, our system finds the risk reward attractive.

Is Schwab U.S. Broad Market ETF ETF A Buy?

Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Schwab U.S. Broad Market ETF to perform well in the short-term period.

Current score: 4.341 Buy Candidate Unchanged

Predicted Opening Price for Schwab U.S. Broad Market ETF of Tuesday, May 21, 2024

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