Managed Portfolio Series ETF Forecast
Managed Portfolio Series ETF downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Managed Portfolio Series ETF price fell by -0.101% on the last day (Friday, 28th Jun 2024) from $25.67 to $25.64. During the last trading day the ETF fluctuated 0.586% from a day low at $25.61 to a day high of $25.76. The price has fallen in 6 of the last 10 days but is still up by 0.57% over the past 2 weeks. Volume has increased on the last day by 117 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 137 thousand shares were bought and sold for approximately $3.52 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Managed Portfolio Series ETF with a 90% probability to be traded between $25.51 and $26.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TOGA Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.101%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The Managed Portfolio Series ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $25.56 and $25.50. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Thursday, June 27, 2024 and based on theory for this formation the price should fall by -0.600% to $25.49 within 10 trading days since signal was issued (Friday, July 12, 2024).
Support, Risk & Stop-loss for Managed Portfolio Series ETF
Managed Portfolio Series finds support from accumulated volume at $25.47 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 $0.150 between high and low, or 0.586%. For the last week the ETF has had daily average volatility of 0.320%.
Our recommended stop-loss: $24.87 (-3.02%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (TOGA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Managed Portfolio Series to open at $25.67, and during the day (based on 14 day Average True Range), to move between $25.46 and $25.83, which gives a possible trading interval of +/-$0.182 (+/-0.71%) up or down from last closing price. If Managed Portfolio Series takes out the full calculated possible swing range there will be an estimated 1.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.65 (0.02%) than the support at $25.47 (0.67%), 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 Managed Portfolio Series ETF A Buy?
Managed Portfolio Series 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: 0.789 Hold/Accumulate Downgraded
Predicted Opening Price for Managed Portfolio Series of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $25.67 ( 0.106%) | $25.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOGA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.82 | 0.691% |
| R2 | 25.76 | 0.468% |
| R1 | 25.73 | 0.330% |
| Price | 25.64 | |
| S1 | 25.61 | -0.117% |
| S2 | 25.58 | -0.255% |
| S3 | 25.52 | -0.479% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.68 | 0.131% |
| R2 | 25.67 | 0.101% |
| R1 | 25.65 | 0.0226% |
| Price | 25.64 | |
| S1 | 25.47 | -0.670% |
| S2 | 25.34 | -1.18% |
| S3 | 25.30 | -1.34% |
FAQ
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