Wahed Dow Jones Islamic World Etf ETF Forecast

Green day on Monday for Wahed Dow Jones Islamic World Etf ETF after gaining 0.402%
(Updated on Jun 17, 2024)

UMMA Signals & Forecast

The Wahed Dow Jones Islamic World Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $24.96. On a fall, the ETF will find some support from the long-term average at approximately $24.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, June 12, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Wahed Dow Jones Islamic World Etf ETF

Wahed Dow Jones Islamic World Etf finds support from accumulated volume at $24.94 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 $0.310 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 1.04%

Our recommended stop-loss: $24.04 (-3.67%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)

Trading Expectations (UMMA) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Wahed Dow Jones Islamic World Etf to open at $24.86, and during the day (based on 14 day Average True Range), to move between $24.67 and $25.25, which gives a possible trading interval of +/-$0.294 (+/-1.18%) up or down from last closing price. If Wahed Dow Jones Islamic World Etf takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $24.94 (0.07%) than the resistance at $25.00 (0.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Wahed Dow Jones Islamic World Etf ETF A Buy?

Wahed Dow Jones Islamic World 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: 0.174 Hold/Accumulate Unchanged

Predicted Opening Price for Wahed Dow Jones Islamic World Etf of Tuesday, June 18, 2024

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