Esoterica Nextg Economy ETF Forecast
Esoterica Nextg Economy ETF upgraded to Buy Candidate.
(Updated on May 06, 2024)
The Esoterica Nextg Economy ETF price gained 2.21% on the last trading day (Monday, 6th May 2024), rising from $60.55 to $61.89. During the last trading day the ETF fluctuated 1.46% from a day low at $61.00 to a day high of $61.89. The price has fallen in 5 of the last 10 days but is still up by 8.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $219.21 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Esoterica Nextg Economy ETF with a 90% probability to be traded between $56.53 and $63.62 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WUGI Signals & Forecast
Mostly positive signals in the chart today. The Esoterica Nextg Economy ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $59.84 and $60.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Esoterica Nextg Economy 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.
Support, Risk & Stop-loss for Esoterica Nextg Economy ETF
Esoterica Nextg Economy finds support from accumulated volume at $60.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.89 (1.46%) between high and low. For the last week, the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: $59.34 (-4.12%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (WUGI) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Esoterica Nextg Economy ETF to open at $61.59, and during the day (based on 14 day Average True Range), to move between $60.62 and $63.16, which gives a possible trading interval of +/-$1.27 (+/-2.05%) 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 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $61.96 (0.11%) than the support at $60.44 (2.35%), 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 Esoterica Nextg Economy ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Esoterica Nextg Economy ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.012 Buy Candidate Upgraded
Predicted Opening Price for Esoterica Nextg Economy ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $61.59 ( 0.479%) | $61.89 |
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 | 62.48 | 0.96 % | |
| R2 | 62.14 | 0.409 % | ||
| R1 | 61.93 | 0.0700 % | ||
| Current price: | 61.89 | |||
| Support | S1 | 61.25 | -1.03 % | |
| S2 | 61.04 | -1.37 % | ||
| S3 | 60.70 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.94 | 1.69 % | |
| R2 | 62.51 | 1.00 % | ||
| R1 | 61.96 | 0.114 % | ||
| Current price | 61.89 | |||
| Support | S1 | 60.44 | -2.35% | |
| S2 | 60.20 | -2.73% | ||
| S3 | 57.97 | -6.33% |
FAQ
Click here for our free guide on how to buy Esoterica Nextg Economy ETF ETF.
