Esoterica Nextg Economy 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
Esoterica Nextg Economy ETF price down 0.204% on Thursday
(Updated on Apr 25, 2024)
The Esoterica Nextg Economy ETF price fell by -0.204% on the last day (Thursday, 25th Apr 2024) from $58.78 to $58.66. During the last trading day the ETF fluctuated 2.55% from a day low at $57.20 to a day high of $58.66. The price has fallen in 7 of the last 10 days and is down by -5.49% for this period. Volume has increased on the last day by 113 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, 922 shares were bought and sold for approximately $54.08 thousand.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 6.03% during the next 3 months and, with a 90% probability hold a price between $59.96 and $69.26 at the end of this 3-month period.
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WUGI Signals & Forecast
There are mixed signals in the ETF today. The Esoterica Nextg Economy ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $61.05. On a fall, the ETF will find some support from the short-term average at $58.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Esoterica Nextg Economy gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.17%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Esoterica Nextg Economy ETF
Esoterica Nextg Economy finds support from accumulated volume at $57.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.46 between high and low, or 2.55%. For the last week, the ETF has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WUGI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Esoterica Nextg Economy ETF to open at $58.17, and during the day (based on 14 day Average True Range), to move between $57.45 and $59.87, which gives a possible trading interval of +/-$1.21 (+/-2.07%) up or down from last closing price. If Esoterica Nextg Economy ETF takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.97 (1.18%) than the resistance at $60.20 (2.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Esoterica Nextg Economy ETF ETF A Buy?
Esoterica Nextg Economy 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.
Current score: -1.458 Sell Candidate Unchanged
Predicted Opening Price for Esoterica Nextg Economy ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $58.17 ( 0.83%) | $58.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WUGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.63 | 1.66 % | |
| R2 | 59.08 | 0.709 % | ||
| R1 | 58.73 | 0.121 % | ||
| Current price: | 58.66 | |||
| Support | S1 | 57.62 | -1.78 % | |
| S2 | 57.27 | -2.37 % | ||
| S3 | 56.71 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.94 | 7.29 % | |
| R2 | 60.44 | 3.03 % | ||
| R1 | 60.20 | 2.63 % | ||
| Current price | 58.66 | |||
| Support | S1 | 57.97 | -1.18% | |
| S2 | 57.05 | -2.74% | ||
| S3 | 55.27 | -5.78% |
FAQ
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