Han-gins Tech Megatrend Equal Weight ETF Forecast

Evaluation of Han-gins Tech Megatrend Equal Weight ETF downgraded after the last trading session.
(Updated on Jun 27, 2024)

T3KE.F Signals & Forecast

The Han-gins Tech Megatrend Equal Weight ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 12.24€. On a fall, the ETF will find some support from the long-term average at approximately 11.78€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -1.24%. Further fall is indicated until a new bottom pivot has been found. Han-gins Tech Megatrend Equal Weight 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Han-gins Tech Megatrend Equal Weight ETF

Han-gins Tech Megatrend Equal Weight finds support from accumulated volume at 11.95€ 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 0.158€ between high and low, or 1.29%. For the last week, the ETF has had daily average volatility of 1.30%.

Our recommended stop-loss: 11.80€ (-3.44%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 48 days ago.)

Trading Expectations (T3KE.F) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Han-gins Tech Megatrend Equal Weight Ucits Etf to open at 12.27€, and during the day (based on 14 day Average True Range), to move between 12.07€ and 12.37€, which gives a possible trading interval of +/-0.151€ (+/-1.24%) up or down from last closing price. If Han-gins Tech Megatrend Equal Weight Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 12.26€ (0.34%) than the support at 11.95€ (2.18%), 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 Han-gins Tech Megatrend Equal Weight Ucits Etf ETF A Buy?

Han-gins Tech Megatrend Equal Weight 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.152 Hold/Accumulate Downgraded

Predicted Opening Price for Han-gins Tech Megatrend Equal Weight Ucits Etf of Friday, June 28, 2024

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