Innovator S&p 500 Ultra Buffer Etf - ETF Forecast

Innovator S&p 500 Ultra Buffer Etf - ETF price up 0.0324% on Thursday
(Updated on Jun 27, 2024)

UDEC Signals & Forecast

The Innovator S&p 500 Ultra Buffer Etf - 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 $34.22 and $33.91. A breakdown below any of these levels will issue sell signals. Innovator S&p 500 Ultra Buffer Etf - has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, June 17, 2024, and so far it has fallen -0.0552%. 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). The ETF had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Innovator S&p 500 Ultra Buffer Etf - ETF

Innovator S&p 500 Ultra Buffer Etf - finds support from accumulated volume at $34.17 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 $0.0600 between high and low, or 0.175%. For the last week the ETF has had daily average volatility of 0.136%.

Our recommended stop-loss: $33.00 (-3.60%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 36 days ago.)

Trading Expectations (UDEC) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Innovator S&p 500 Ultra Buffer Etf - December to open at $34.25, and during the day (based on 14 day Average True Range), to move between $34.16 and $34.31, which gives a possible trading interval of +/-$0.0761 (+/-0.22%) up or down from last closing price. If Innovator S&p 500 Ultra Buffer Etf - December takes out the full calculated possible swing range there will be an estimated 0.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.23 (0.01%) than the support at $34.17 (0.17%), 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 Innovator S&p 500 Ultra Buffer Etf - December ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Innovator S&p 500 Ultra Buffer Etf - ETF to perform well in the short-term.

Current score: 2.120 Buy Candidate Unchanged

Predicted Opening Price for Innovator S&p 500 Ultra Buffer Etf - December of Friday, June 28, 2024

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