Source Markets Plc - Source Real Estate ETF Forecast
Evaluation of Source Markets Plc - Source Real Estate ETF downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Source Markets Plc - Source Real Estate ETF price fell by -0.581% on the last day (Tuesday, 25th Jun 2024) from $21.94 to $21.81. During the last trading day the ETF fluctuated 2.57% from a day low at $21.81 to a day high of $22.37. The price has risen in 5 of the last 10 days and is up by 0.2% over the past 2 weeks. Volume has increased on the last day by 53 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, 55 thousand shares were bought and sold for approximately $1.20 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Source Markets Plc - Source Real Estate ETF with a 90% probability to be traded between $21.12 and $22.86 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.
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XRES.L Signals & Forecast
The Source Markets Plc - Source Real Estate 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 $21.92. On a fall, the ETF will find some support from the long-term average at approximately $21.75. 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, June 12, 2024, and so far it has fallen -1.75%. Further fall is indicated until a new bottom pivot has been found. Source Markets Plc - Source Real Estate 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 ETF had a Golden Star Signal on Monday, June 03, 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 Monday, June 03, 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 Source Markets Plc - Source Real Estate ETF
Source Markets Plc - Source Real Estate finds support from accumulated volume at $21.43 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 $0.560 between high and low, or 2.57%. For the last week the ETF has had daily average volatility of 1.20%.
Our recommended stop-loss: $21.15 (-3.04%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (XRES.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Source Markets Plc - Source Real Estate S&p Us Select Sector Ucits Etf to open at $22.00, and during the day (based on 14 day Average True Range), to move between $21.51 and $22.11, which gives a possible trading interval of +/-$0.303 (+/-1.39%) up or down from last closing price. If Source Markets Plc - Source Real Estate S&p Us Select Sector Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.86 (0.23%) than the support at $21.43 (1.74%), 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 Source Markets Plc - Source Real Estate S&p Us Select Sector Ucits Etf ETF A Buy?
Source Markets Plc - Source Real Estate holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.553 Hold/Accumulate Downgraded
Predicted Opening Price for Source Markets Plc - Source Real Estate S&p Us Select Sector Ucits Etf of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$22.00 ( 0.86%) | $21.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XRES.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.56 | 3.42% |
R2 | 22.34 | 2.44% |
R1 | 22.21 | 1.84% |
Price | 21.81 | |
S1 | 21.78 | -0.125% |
S2 | 21.65 | -0.731% |
S3 | 21.44 | -1.71% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.24 | 1.97% |
R2 | 21.91 | 0.459% |
R1 | 21.86 | 0.229% |
Price | 21.81 | |
S1 | 21.43 | -1.74% |
S2 | 21.40 | -1.88% |
S3 | 20.55 | -5.78% |
FAQ
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