US Treasury 2 Year Note ETF Forecast
Evaluation of US Treasury 2 Year Note ETF downgraded after the last trading session.
(Updated on May 22, 2024)
The US Treasury 2 Year Note ETF price fell by -0.0731% on the last day (Wednesday, 22nd May 2024) from $47.86 to $47.82. During the last trading day the ETF fluctuated 0.0523% from a day low at $47.82 to a day high of $47.84. The price has risen in 5 of the last 10 days and is up by 0.08% over the past 2 weeks. Volume has increased on the last day by 44 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 74 thousand shares were bought and sold for approximately $3.55 million.
The ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $47.87 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect US Treasury 2 Year Note ETF with a 90% probability to be traded between $47.16 and $47.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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UTWO Signals & Forecast
The US Treasury 2 Year Note 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 $47.85. On a fall, the ETF will find some support from the long-term average at approximately $47.78. 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, May 15, 2024, and so far it has fallen -0.167%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for US Treasury 2 Year Note ETF
US Treasury 2 Year Note finds support from accumulated volume at $47.78 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 $0.0250 between high and low, or 0.0523%. For the last week the ETF has had daily average volatility of 0.0558%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTWO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect US Treasury 2 Year Note ETF to open at $47.83, and during the day (based on 14 day Average True Range), to move between $47.77 and $47.87, which gives a possible trading interval of +/-$0.0507 (+/-0.11%) up or down from last closing price. If US Treasury 2 Year Note ETF takes out the full calculated possible swing range there will be an estimated 0.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.85 (0.06%) than the support at $47.78 (0.08%), 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 US Treasury 2 Year Note ETF ETF A Buy?
US Treasury 2 Year Note holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.449 Sell Candidate Downgraded
Predicted Opening Price for US Treasury 2 Year Note ETF of Thursday, May 23, 2024
Fair opening price May 23, 2024 | Current price |
---|---|
$47.83 ( 0.0105%) | $47.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTWO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.85 | 0.0627 % | |
R2 | 47.84 | 0.0428 % | ||
R1 | 47.83 | 0.0304 % | ||
Current price: | 47.82 | |||
Support | S1 | 47.82 | -0.0095 % | |
S2 | 47.81 | -0.0219 % | ||
S3 | 47.80 | -0.0418 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 48.10 | 0.586 % | |
R2 | 48.10 | 0.575 % | ||
R1 | 47.85 | 0.0627 % | ||
Current price | 47.82 | |||
Support | S1 | 47.78 | -0.0836% | |
S2 | 47.77 | -0.105% | ||
S3 | 47.72 | -0.220% |
UTWO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 30, 2024 | May 01, 2024 | May 03, 2024 | $0.174 | 0.363% |
2 | Mar 28, 2024 | Apr 01, 2024 | Apr 03, 2024 | $0.179 | 0.375% |
3 | Feb 29, 2024 | Mar 01, 2024 | Mar 05, 2024 | $0.164 | 0.342% |
4 | Jan 31, 2024 | Feb 01, 2024 | Feb 05, 2024 | $0.171 | 0.356% |
5 | Dec 26, 2023 | Dec 27, 2023 | Dec 29, 2023 | $0.191 | 0.395% |
FAQ
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