Axs 2x Innovation Etf ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Axs 2x Innovation Etf ETF downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Axs 2x Innovation Etf ETF price gained 1.58% on the last trading day (Tuesday, 2nd Jul 2024), rising from $60.32 to $61.28. During the last trading day the ETF fluctuated 2.26% from a day low at $60.25 to a day high of $61.61. The price has been going up and down for this period, and there has been a 2.55% gain for the last 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 33 thousand shares were bought and sold for approximately $2.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $61.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -13.30% during the next 3 months and, with a 90% probability hold a price between $41.69 and $53.29 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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TARK Signals & Forecast
The Axs 2x Innovation Etf ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF 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 $58.86 and $59.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 10.19%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
A buy signal from a double bottom formation was found on Friday, May 31, 2024 and based on theory for this formation the price should go up by 20.04% to $73.55 within 29 trading days since signal was issued (Monday, July 15, 2024).
Support, Risk & Stop-loss for Axs 2x Innovation Etf ETF
Axs 2x Innovation Etf finds support from accumulated volume at $60.37 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 $1.36 between high and low, or 2.26%. For the last week, the ETF has had daily average volatility of 2.85%.
Our recommended stop-loss: $59.19 (-3.40%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (TARK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Axs 2x Innovation Etf to open at $61.05, and during the day (based on 14 day Average True Range), to move between $58.88 and $63.67, which gives a possible trading interval of +/-$2.39 (+/-3.90%) up or down from last closing price. If Axs 2x Innovation Etf takes out the full calculated possible swing range there will be an estimated 7.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.10 (1.35%) than the support at $60.37 (1.48%), 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 Axs 2x Innovation Etf ETF A Buy?
Axs 2x Innovation 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. 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: -0.240 Hold/Accumulate Downgraded
Predicted Opening Price for Axs 2x Innovation Etf of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $61.05 ( 0.375%) | $61.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TARK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 62.40 | 1.84% |
| R2 | 61.89 | 1.00% |
| R1 | 61.56 | 0.472% |
| Price | 61.28 | |
| S1 | 60.53 | -1.22% |
| S2 | 60.20 | -1.75% |
| S3 | 59.69 | -2.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 68.34 | 11.53% |
| R2 | 62.39 | 1.82% |
| R1 | 62.10 | 1.35% |
| Price | 61.28 | |
| S1 | 60.37 | -1.48% |
| S2 | 58.31 | -4.84% |
| S3 | 57.13 | -6.76% |
FAQ
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