Sprott Energy Transition Materials Etf ETF Forecast

Red day on Tuesday for Sprott Energy Transition Materials Etf
(Updated on Jun 25, 2024)

SETM Signals & Forecast

There are few to no technical positive signals at the moment. The Sprott Energy Transition Materials Etf 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 $17.37 and $18.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -17.83%. 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). Sprott Energy Transition Materials Etf 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".

Support, Risk & Stop-loss for Sprott Energy Transition Materials Etf ETF

Sprott Energy Transition Materials Etf finds support from accumulated volume at $17.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.301 between high and low, or 1.78%. For the last week, the ETF has had daily average volatility of 1.16%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SETM) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Sprott Energy Transition Materials Etf to open at $17.09, and during the day (based on 14 day Average True Range), to move between $16.66 and $17.46, which gives a possible trading interval of +/-$0.402 (+/-2.36%) up or down from last closing price. If Sprott Energy Transition Materials Etf takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.05 (0.05%) than the resistance at $17.30 (1.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sprott Energy Transition Materials Etf ETF A Buy?

The Sprott Energy Transition Materials Etf ETF holds several negative signals and despite the positive trend, we believe Sprott Energy Transition Materials Etf will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -1.793 Sell Candidate Unchanged

Predicted Opening Price for Sprott Energy Transition Materials Etf of Wednesday, June 26, 2024

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