Teucrium Soybean ETF Forecast

Teucrium Soybean ETF price ended at $24.90 on Monday, after gaining 1.22%.
(Updated on Apr 22, 2024)

SOYB Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.34%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Teucrium Soybean 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 $24.95. On a fall, the ETF will find some support from the short-term average at $24.65. 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).

Support, Risk & Stop-loss for Teucrium Soybean ETF

Teucrium Soybean finds support from accumulated volume at $24.34 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 $0.420 between high and low, or 1.71%. For the last week the ETF has had daily average volatility of 1.10%.

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

Trading Expectations (SOYB) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Teucrium Soybean to open at $24.81, and during the day (based on 14 day Average True Range), to move between $24.61 and $25.19, which gives a possible trading interval of +/-$0.286 (+/-1.15%) up or down from last closing price. If Teucrium Soybean takes out the full calculated possible swing range there will be an estimated 2.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.97 (0.28%) than the support at $24.34 (2.25%), 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 Teucrium Soybean ETF A Buy?

Teucrium Soybean 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.

Current score: -1.818 Sell Candidate Unchanged

Predicted Opening Price for Teucrium Soybean of Tuesday, April 23, 2024

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