CI First Asset Tech Giants Covered Call 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
Red day on Wednesday for CI First Asset Tech Giants Covered Call
(Updated on May 01, 2024)
The CI First Asset Tech Giants Covered Call ETF price fell by -1.69% on the last day (Wednesday, 1st May 2024) from $20.12 to $19.78. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.97% from a day low at $19.76 to a day high of $20.15. The price has fallen in 6 of the last 10 days and is down by -2.42% for this period. Volume has increased on the last day by 14 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, 19 thousand shares were bought and sold for approximately $376.47 thousand.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.56 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -2.43% during the next 3 months and, with a 90% probability hold a price between $19.08 and $20.94 at the end of this 3-month period.
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TXF.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.764%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $20.15 and $20.80. A break-up above any of these levels will issue buy signals. 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 $19.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.390 (1.97%) between high and low. For the last week, the ETF has had daily average volatility of 1.34%.
Our recommended stop-loss: $18.75 (-5.22%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (TXF.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CI First Asset Tech Giants Covered Call ETF Common Units to open at $19.90, and during the day (based on 14 day Average True Range), to move between $19.46 and $20.10, which gives a possible trading interval of +/-$0.319 (+/-1.61%) 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 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.63 (0.76%) than the resistance at $21.01 (6.22%), 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?
CI First Asset Tech Giants Covered Call holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.691 Hold/Accumulate Unchanged
Predicted Opening Price for CI First Asset Tech Giants Covered Call ETF Common Units of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $19.90 ( 0.590%) | $19.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXF.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.29 | 2.56 % | |
| R2 | 20.14 | 1.81 % | ||
| R1 | 20.05 | 1.34 % | ||
| Current price: | 19.78 | |||
| Support | S1 | 19.75 | -0.163 % | |
| S2 | 19.66 | -0.629 % | ||
| S3 | 19.51 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.44 | 8.39 % | |
| R2 | 21.34 | 7.89 % | ||
| R1 | 21.01 | 6.22 % | ||
| Current price | 19.78 | |||
| Support | S1 | 19.63 | -0.758% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TXF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.424 | 1.99% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.336 | 1.78% |
| 3 | Sep 22, 2023 | Sep 22, 2023 | Sep 22, 2023 | $0.384 | 2.31% |
| 4 | Jun 23, 2023 | Jun 23, 2023 | Jun 23, 2023 | $0.334 | 1.99% |
| 5 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | $0.391 | 2.61% |
FAQ
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