Satrix Nasdaq 100 ETF Stock Forecast
Satrix Nasdaq 100 ETF stock upgraded to Hold/Accumulate.
(Updated on May 15, 2024)
The Satrix Nasdaq 100 ETF stock price gained 0.634% on the last trading day (Wednesday, 15th May 2024), rising from $19,082.00 to $19,203.00. During the last trading day the stock fluctuated 1.25% from a day low at $19,033.00 to a day high of $19,270.00. The price has risen in 6 of the last 10 days and is up by 1.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $486.68 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.72% during the next 3 months and, with a 90% probability hold a price between $17,887.39 and $18,963.44 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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STXNDQ.JO Signals & Forecast
The Satrix Nasdaq 100 ETF stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19,057.00 and $19,128.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 3.96%. 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 Satrix Nasdaq 100 ETF stock
Satrix Nasdaq 100 ETF finds support from accumulated volume at $18,934.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $237.00 between high and low, or 1.25%. For the last week the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: $18,214.40 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (STXNDQ.JO) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Satrix Nasdaq 100 ETF to open at $19,168.67, and during the day (based on 14 day Average True Range), to move between $18,812.81 and $19,593.19, which gives a possible trading interval of +/-$390.19 (+/-2.03%) up or down from last closing price. If Satrix Nasdaq 100 ETF takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19,283.00 (0.42%) than the support at $18,934.00 (1.40%), 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 Satrix Nasdaq 100 ETF stock A Buy?
Satrix Nasdaq 100 ETF holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.494 Hold/Accumulate Upgraded
Predicted Opening Price for Satrix Nasdaq 100 ETF of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $19,168.67 ( 0.179%) | $19,203.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STXNDQ.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19,405.67 | 1.06 % | |
| R2 | 19,315.13 | 0.584 % | ||
| R1 | 19,259.20 | 0.293 % | ||
| Current price: | 19,203.00 | |||
| Support | S1 | 19,078.13 | -0.650 % | |
| S2 | 19,022.20 | -0.94 % | ||
| S3 | 18,931.67 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19,799.00 | 3.10 % | |
| R2 | 19,401.00 | 1.03 % | ||
| R1 | 19,283.00 | 0.417 % | ||
| Current price | 19,203.00 | |||
| Support | S1 | 18,934.00 | -1.40% | |
| S2 | 18,931.00 | -1.42% | ||
| S3 | 18,471.00 | -3.81% |
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