S S&P/ASX 300 High Yield Plus ETF Forecast

Evaluation of S S&P/ASX 300 High Yield Plus ETF downgraded after the last trading session.
(Updated on Jun 26, 2024)

ZYAU.AX Signals & Forecast

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. The S S&P/ASX 300 High Yield Plus ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at A$8.73. On a fall, the ETF will find some support from the short-term average at A$8.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.02%. 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 ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Friday, June 21, 2024 in the short-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.

Buy

Special Signal Notification

Golden Star

The ETF had a Golden Star Signal on Friday, June 21, 2024 in the short-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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 3.07% to A$8.97 within 21 trading days since signal was issued (Monday, July 01, 2024).

Support, Risk & Stop-loss for S S&P/ASX 300 High Yield Plus ETF

S S&P/ASX 300 High Yield Plus finds support from accumulated volume at A$8.65 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$0.0600 between high and low, or 0.693%. For the last week the ETF has had daily average volatility of 0.81%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ZYAU.AX) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect ETFS S&P/ASX 300 High Yield Plus ETF to open at A$8.69, and during the day (based on 14 day Average True Range), to move between A$8.63 and A$8.77, which gives a possible trading interval of +/-A$0.0717 (+/-0.82%) up or down from last closing price. If ETFS S&P/ASX 300 High Yield Plus ETF takes out the full calculated possible swing range there will be an estimated 1.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$8.65 (0.57%) than the resistance at A$8.76 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ETFS S&P/ASX 300 High Yield Plus ETF ETF A Buy?

S S&P/ASX 300 High Yield Plus 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: -2.988 Sell Candidate Downgraded

Predicted Opening Price for ETFS S&P/ASX 300 High Yield Plus ETF of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.