Xtrackers Euro Stoxx 50 Short Daily Swap 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
Evaluation of Xtrackers Euro Stoxx 50 Short Daily Swap ETF downgraded after the last trading session.
(Updated on Jun 24, 2024)
The Xtrackers Euro Stoxx 50 Short Daily Swap ETF price fell by -0.582% on the last day (Monday, 24th Jun 2024) from £566.80 to £563.50. During the last trading day the ETF fluctuated 0.337% from a day low at £563.50 to a day high of £565.40. The price has fallen in 4 of the last 10 days but is still up by 1.36% over the past 2 weeks. Volume has increased on the last day by 23 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, 38 thousand shares were bought and sold for approximately £21.15 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Xtrackers Euro Stoxx 50 Short Daily Swap ETF with a 90% probability to be traded between £542.21 and £565.59 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.
XSSX.L Signals & Forecast
The Xtrackers Euro Stoxx 50 Short Daily Swap 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 £566.33. On a fall, the ETF will find some support from the long-term average at approximately £561.28. 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 Monday, June 17, 2024, and so far it has fallen -2.01%. 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 Xtrackers Euro Stoxx 50 Short Daily Swap ETF
Xtrackers Euro Stoxx 50 Short Daily Swap finds support from accumulated volume at £555.85 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 £1.90 between high and low, or 0.337%. For the last week the ETF has had daily average volatility of 0.228%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XSSX.L) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Xtrackers Euro Stoxx 50 Short Daily Swap Ucits Etf to open at £564.13, and during the day (based on 14 day Average True Range), to move between £558.71 and £568.29, which gives a possible trading interval of +/-£4.79 (+/-0.85%) up or down from last closing price. If Xtrackers Euro Stoxx 50 Short Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £571.05 (1.34%) than the support at £555.85 (1.36%), 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 Xtrackers Euro Stoxx 50 Short Daily Swap Ucits Etf ETF A Buy?
Xtrackers Euro Stoxx 50 Short Daily Swap 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 Buy to a Sell candidate.
Current score: -1.105 Sell Candidate Downgraded
Predicted Opening Price for Xtrackers Euro Stoxx 50 Short Daily Swap Ucits Etf of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| £564.13 ( 0.112%) | £563.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XSSX.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 566.03 | 0.450% |
| R2 | 565.31 | 0.321% |
| R1 | 564.86 | 0.241% |
| Price | 563.50 | |
| S1 | 563.41 | -0.0164% |
| S2 | 562.96 | -0.0960% |
| S3 | 562.23 | -0.225% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 575.75 | 2.17% |
| R2 | 575.04 | 2.05% |
| R1 | 571.05 | 1.34% |
| Price | 563.50 | |
| S1 | 555.85 | -1.36% |
| S2 | 555.75 | -1.38% |
| S3 | 551.75 | -2.09% |
FAQ
Click here for our free guide on how to buy Xtrackers Euro Stoxx 50 Short Daily Swap Ucits Etf ETF.
