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USCommodity Gasoline Fund LP ETF Forecast

$72.83
+0.0100 (+0.0137%)
At Close: Apr 11, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of UGA
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Green day on Thursday for USCommodity Gasoline Fund LP ETF after gaining 0.0137%
(Updated on Apr 11, 2024)

Buy or Hold candidate since Feb 22, 2024 Gain 9.87% PDF

The USCommodity Gasoline Fund LP ETF price gained 0.0137% on the last trading day (Thursday, 11th Apr 2024), rising from $72.82 to $72.83. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.25% from a day low at $71.93 to a day high of $72.83. The price has risen in 7 of the last 10 days and is up by 4.21% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 25 thousand shares were bought and sold for approximately $1.82 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 in the upper part of a strong rising 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 $73.69 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 16.47% during the next 3 months and, with a 90% probability hold a price between $80.52 and $85.84 at the end of this 3-month period.

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UGA Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -0.0137%. 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 USCommodity Gasoline Fund LP 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 $72.49 and $69.35. A breakdown below any of these levels will issue sell signals. 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.

Support, Risk & Stop-loss for USCommodity Gasoline Fund LP ETF

USCommodity Gasoline Fund LP finds support from accumulated volume at $70.80 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 $0.90 between high and low, or 1.25%. For the last week the ETF has had daily average volatility of 1.60%.

Our recommended stop-loss: $70.50 (-3.20%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (UGA) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect USCommodity Gasoline Fund LP ETF to open at $72.53, and during the day (based on 14 day Average True Range), to move between $71.67 and $73.99, which gives a possible trading interval of +/-$1.16 (+/-1.60%) up or down from last closing price. If USCommodity Gasoline Fund LP ETF takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $72.84 (0.01%) than the support at $70.80 (2.79%), 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 USCommodity Gasoline Fund LP ETF 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 USCommodity Gasoline Fund LP ETF to perform well in the short-term.

Current score: 2.187 Buy Candidate Unchanged

Predicted Opening Price for USCommodity Gasoline Fund LP ETF of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$72.53 ( 0.410%) $72.83

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

Trading levels for UGA

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 73.43 0.82 %
R2 73.09 0.350 %
R1 72.87 0.0599 %
Current price: 72.83
Support S1 72.19 -0.88 %
S2 71.98 -1.17 %
S3 71.63 -1.64 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 72.84 0.0137 %
Current price 72.83
Support S1 70.80 -2.79%
S2 67.75 -6.98%
S3 62.70 -13.91%

FAQ

What is the symbol for USCommodity Gasoline Fund LP ETF ETF and on which exchange is it traded?
The symbol for USCommodity Gasoline Fund LP ETF is UGA and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell USCommodity Gasoline Fund LP ETF ETF?
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 USCommodity Gasoline Fund LP ETF to perform well in the short-term.

How to buy USCommodity Gasoline Fund LP ETF ETF?
USCommodity Gasoline Fund LP ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy USCommodity Gasoline Fund LP ETF ETF.

What's the current price of USCommodity Gasoline Fund LP ETF ETF?
As of the end of day on the 2024-04-11, the price of an USCommodity Gasoline Fund LP ETF (UGA) share was $72.83.

What is the 52-week high and low for USCommodity Gasoline Fund LP ETF ETF?
The 52-week high for USCommodity Gasoline Fund LP ETF ETF is $76.06 and the 52-week low is $52.98.

What is the market capitalization of USCommodity Gasoline Fund LP ETF ETF?
As of the 2024-04-11, the market capitalization of USCommodity Gasoline Fund LP ETF is 121.297M.
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