Innovator S&p 500 Ultra Buffer Etf - ETF Forecast

Red day on Thursday for Innovator S&p 500 Ultra Buffer Etf -
(Updated on Jun 20, 2024)

UMAR 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 $33.52 and $33.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -0.123%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

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 $33.48 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0900 between high and low, or 0.268%. For the last week the ETF has had daily average volatility of 0.335%

The Innovator S&p 500 Ultra Buffer Etf - ETF is extremely overbought on RSI14 (88). This increases the short-term risk substantially.

Our recommended stop-loss: $32.54 (-3.25%) (This ETF has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (UMAR) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Innovator S&p 500 Ultra Buffer Etf - March to open at $33.64, and during the day (based on 14 day Average True Range), to move between $33.49 and $33.77, which gives a possible trading interval of +/-$0.141 (+/-0.42%) up or down from last closing price. If Innovator S&p 500 Ultra Buffer Etf - March takes out the full calculated possible swing range there will be an estimated 0.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.66 (0.08%) than the support at $33.48 (0.47%), 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 - March ETF A Buy?

Innovator S&p 500 Ultra Buffer Etf - 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Innovator S&p 500 Ultra Buffer Etf - March of Friday, June 21, 2024

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