United States Commodity Index Fund, LP ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
United States Commodity Index Fund, LP ETF price ended at $60.81 on Friday, after gaining 0.689%.
(Updated on May 03, 2024)
The United States Commodity Index Fund, LP ETF price gained 0.689% on the last trading day (Friday, 3rd May 2024), rising from $60.39 to $60.81. During the last trading day the ETF fluctuated 0.777% from a day low at $60.42 to a day high of $60.89. The price has fallen in 7 of the last 10 days and is down by -5.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $1.39 million.
The ETF lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $60.50 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 12.06% during the next 3 months and, with a 90% probability hold a price between $67.80 and $73.12 at the end of this 3-month period.
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USCI Signals & Forecast
United States Commodity Index Fund, LP 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. The United States Commodity Index Fund, LP 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 $61.82 and $61.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -5.17%. 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, February 22, 2024 in the long-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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, February 22, 2024 in the long-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 United States Commodity Index Fund, LP ETF
United States Commodity Index Fund, LP finds support from accumulated volume at $58.80 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 $0.469 between high and low, or 0.777%. For the last week the ETF has had daily average volatility of 0.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USCI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect United States Commodity Index Fund, LP to open at $60.70, and during the day (based on 14 day Average True Range), to move between $60.10 and $61.51, which gives a possible trading interval of +/-$0.703 (+/-1.16%) up or down from last closing price. If United States Commodity Index Fund, LP takes out the full calculated possible swing range there will be an estimated 2.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.50 (2.79%) than the support at $58.80 (3.31%), 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 United States Commodity Index Fund, LP ETF A Buy?
The United States Commodity Index Fund, LP ETF holds several negative signals and despite the positive trend, we believe United States Commodity Index Fund, LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.536 Sell Candidate Unchanged
Predicted Opening Price for United States Commodity Index Fund, LP of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $60.70 ( 0.165%) | $60.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.17 | 0.607 % | |
| R2 | 60.99 | 0.312 % | ||
| R1 | 60.88 | 0.130 % | ||
| Current price: | 60.81 | |||
| Support | S1 | 60.53 | -0.460 % | |
| S2 | 60.41 | -0.642 % | ||
| S3 | 60.24 | -0.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.10 | 3.77 % | |
| R2 | 62.90 | 3.45 % | ||
| R1 | 62.50 | 2.79 % | ||
| Current price | 60.81 | |||
| Support | S1 | 58.80 | -3.31% | |
| S2 | 58.06 | -4.51% | ||
| S3 | 57.22 | -5.90% |
FAQ
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