Betashares Australian Top 20 Equity Trust Forecast
Betashares Australian Top 20 Equity trust price ended at $7.85 on Thursday, after losing 0.254%.
(Updated on Jun 27, 2024)
The Betashares Australian Top 20 Equity trust price fell by -0.254% on the last day (Thursday, 27th Jun 2024) from $7.87 to $7.85. During the last trading day the trust fluctuated 1.29% from a day low at $7.78 to a day high of $7.88. The price has fallen in 5 of the last 10 days but is still up by 0.38% over the past 2 weeks. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -32 thousand shares and in total, 73 thousand shares were bought and sold for approximately $571.13 thousand.
The trust 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 Betashares Australian Top 20 Equity trust with a 90% probability to be traded between $7.81 and $8.11 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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YMAX.AX Signals & Forecast
The Betashares Australian Top 20 Equity trust 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 trust giving a positive forecast for the stock. On further gains, the trust will meet resistance from the short-term Moving Average at approximately $7.87. On a fall, the trust will find some support from the long-term average at approximately $7.81. 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 Tuesday, June 25, 2024, and so far it has fallen -1.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should fall by -2.61% to $7.65 within 22 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for Betashares Australian Top 20 Equity trust
Betashares Australian Top 20 Equity finds support from accumulated volume at $7.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust 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 trust During the last day, the trust moved $0.1000 between high and low, or 1.29%. For the last week the trust has had daily average volatility of 0.97%
Our recommended stop-loss: $7.53 (-4.02%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (YMAX.AX) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Betashares Australian Top 20 Equity Yield Maximiser Fund to open at $7.84, and during the day (based on 14 day Average True Range), to move between $7.77 and $7.93, which gives a possible trading interval of +/-$0.0794 (+/-1.01%) up or down from last closing price. If Betashares Australian Top 20 Equity Yield Maximiser Fund takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.84 (0.13%) than the resistance at $7.86 (0.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Betashares Australian Top 20 Equity Yield Maximiser Fund trust 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 Betashares Australian Top 20 Equity trust to perform well in the short-term period.
Current score: 2.104 Buy Candidate Unchanged
Predicted Opening Price for Betashares Australian Top 20 Equity Yield Maximiser Fund of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $7.84 ( 0.170%) | $7.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YMAX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.94 | 1.10% |
| R2 | 7.90 | 0.617% |
| R1 | 7.87 | 0.317% |
| Price | 7.85 | |
| S1 | 7.80 | -0.656% |
| S2 | 7.77 | -0.96% |
| S3 | 7.74 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.97 | 1.53% |
| R2 | 7.87 | 0.255% |
| R1 | 7.86 | 0.127% |
| Price | 7.85 | |
| S1 | 7.84 | -0.127% |
| S2 | 7.76 | -1.15% |
| S3 | 7.61 | -3.06% |
FAQ
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