Sprott Junior Uranium Miners ETF Forecast
Red day on Tuesday for Sprott Junior Uranium Miners ETF after losing 1.33%
(Updated on Jul 02, 2024)
The Sprott Junior Uranium Miners ETF price fell by -1.33% on the last day (Tuesday, 2nd Jul 2024) from $24.06 to $23.74. During the last trading day the ETF fluctuated 2.64% from a day low at $23.44 to a day high of $24.06. The price has fallen in 6 of the last 10 days and is down by -4% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -77 thousand shares and in total, 123 thousand shares were bought and sold for approximately $2.93 million.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.54 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -6.19% during the next 3 months and, with a 90% probability hold a price between $22.08 and $27.60 at the end of this 3-month period.
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URNJ Signals & Forecast
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. The Sprott Junior Uranium Miners 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 $23.98 and $26.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -21.65%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sprott Junior Uranium Miners ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.620 between high and low, or 2.64%. For the last week, the ETF has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (URNJ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sprott Junior Uranium Miners ETF to open at $23.75, and during the day (based on 14 day Average True Range), to move between $22.83 and $24.65, which gives a possible trading interval of +/-$0.91 (+/-3.84%) up or down from last closing price. If Sprott Junior Uranium Miners ETF takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $23.75, some $0.0100 (0.04%) from the current price of $23.74, our system finds the risk reward not very attractive.
Is Sprott Junior Uranium Miners ETF ETF A Buy?
Sprott Junior Uranium Miners holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.775 Sell Candidate Unchanged
Predicted Opening Price for Sprott Junior Uranium Miners ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $23.75 ( 0.0281%) | $23.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URNJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.37 | 2.64% |
| R2 | 24.13 | 1.64% |
| R1 | 23.98 | 1.03% |
| Price | 23.74 | |
| S1 | 23.51 | -0.97% |
| S2 | 23.36 | -1.59% |
| S3 | 23.13 | -2.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.55 | 24.47% |
| R2 | 28.36 | 19.46% |
| R1 | 23.75 | 0.0421% |
| Price | 23.74 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
URNJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Dec 14, 2023 | Dec 21, 2023 | $0.95 | 4.03% |
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