BetaShares Strong US Dollar Hedge Fund ETF Forecast
BetaShares Strong US Dollar Hedge Fund ETF upgraded to Buy Candidate.
(Updated on Jun 27, 2024)
The BetaShares Strong US Dollar Hedge Fund ETF price gained 1.31% on the last trading day (Thursday, 27th Jun 2024), rising from A$12.26 to A$12.42. During the last trading day the ETF fluctuated 0.0805% from a day low at A$12.42 to a day high of A$12.43. The price has risen in 4 of the last 10 days and is up by 0.4% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 1 thousand shares were bought and sold for approximately A$16.52 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -4.73% during the next 3 months and, with a 90% probability hold a price between A$11.24 and A$12.33 at the end of this 3-month period. 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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YANK.AX Signals & Forecast
The BetaShares Strong US Dollar Hedge Fund 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 A$12.37 and A$12.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.31%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BetaShares Strong US Dollar Hedge Fund ETF
BetaShares Strong US Dollar Hedge Fund finds support from accumulated volume at A$12.34 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0.0100 between high and low, or 0.0805%. For the last week the ETF has had daily average volatility of 0.261%
Our recommended stop-loss: A$11.76 (-5.28%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (YANK.AX) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect BetaShares Strong US Dollar Hedge Fund to open at A$12.42, and during the day (based on 14 day Average True Range), to move between A$12.29 and A$12.55, which gives a possible trading interval of +/-A$0.135 (+/-1.09%) up or down from last closing price. If BetaShares Strong US Dollar Hedge Fund takes out the full calculated possible swing range there will be an estimated 2.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$12.46 (0.32%) than the support at A$12.34 (0.64%), 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 BetaShares Strong US Dollar Hedge Fund ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.052 Buy Candidate Upgraded
Predicted Opening Price for BetaShares Strong US Dollar Hedge Fund of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| A$12.42 ( 0.0268%) | A$12.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YANK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.43 | 0.107% |
| R2 | 12.43 | 0.0766% |
| R1 | 12.43 | 0.0576% |
| Price | 12.42 | |
| S1 | 12.42 | -0.0039% |
| S2 | 12.42 | -0.0229% |
| S3 | 12.41 | -0.0537% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.31 | 7.17% |
| R2 | 12.48 | 0.483% |
| R1 | 12.46 | 0.322% |
| Price | 12.42 | |
| S1 | 12.34 | -0.644% |
| S2 | 12.32 | -0.81% |
| S3 | 12.26 | -1.29% |
YANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | A$0.673 | 5.75% |
| 2 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | A$0.797 | 6.90% |
| 3 | Jul 01, 2019 | Jul 01, 2019 | Jul 01, 2019 | A$2.64 | 19.51% |
| 4 | Jul 02, 2018 | Jul 02, 2018 | Jul 02, 2018 | A$0.437 | 3.07% |
FAQ
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