CI First Asset Tech Giants Covered Call ETF Forecast

CI First Asset Tech Giants Covered Call ETF price down 1.65% on Wednesday
(Updated on Apr 17, 2024)

TXF.TO Signals & Forecast

There are few to no technical positive signals at the moment. The CI First Asset Tech Giants Covered Call ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.79 and $21.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -7.02%. 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). CI First Asset Tech Giants Covered Call 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".

Support, Risk & Stop-loss for CI First Asset Tech Giants Covered Call ETF

CI First Asset Tech Giants Covered Call finds support from accumulated volume at $20.12 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 $0.460 between high and low, or 2.27%. For the last week the ETF has had daily average volatility of 1.64%.

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

Trading Expectations (TXF.TO) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect CI First Asset Tech Giants Covered Call ETF Common Units to open at $20.41, and during the day (based on 14 day Average True Range), to move between $19.95 and $20.59, which gives a possible trading interval of +/-$0.315 (+/-1.55%) up or down from last closing price. If CI First Asset Tech Giants Covered Call ETF Common Units takes out the full calculated possible swing range there will be an estimated 3.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.12 (0.74%) than the resistance at $21.01 (3.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CI First Asset Tech Giants Covered Call ETF Common Units ETF A Buy?

The CI First Asset Tech Giants Covered Call ETF holds several negative signals and despite the positive trend, we believe CI First Asset Tech Giants Covered Call will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.257 Sell Candidate Unchanged

Predicted Opening Price for CI First Asset Tech Giants Covered Call ETF Common Units of Thursday, April 18, 2024

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