BioShares Biotechnology Products Fund ETF Forecast
Evaluation of BioShares Biotechnology Products Fund ETF downgraded after the last trading session.
(Updated on Apr 25, 2024)
The BioShares Biotechnology Products Fund ETF price fell by -2.83% on the last day (Thursday, 25th Apr 2024) from $52.63 to $51.14. During the last trading day the ETF fluctuated 0.288% from a day low at $51.14 to a day high of $51.29. The price has fallen in 7 of the last 10 days and is down by -6.76% for this period. Volume has increased on the last day by 32 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, 264 shares were bought and sold for approximately $13.50 thousand.
The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $49.91 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -12.26% during the next 3 months and, with a 90% probability hold a price between $43.79 and $50.81 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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BBP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.41%. 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. The BioShares Biotechnology Products Fund ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $51.38 and $54.75. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). BioShares Biotechnology Products Fund 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BioShares Biotechnology Products Fund ETF
BioShares Biotechnology Products Fund finds support from accumulated volume at $50.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.147 between high and low, or 0.288%. For the last week, the ETF has had daily average volatility of 0.231%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect BioShares Biotechnology Products Fund to open at $51.19, and during the day (based on 14 day Average True Range), to move between $50.31 and $51.98, which gives a possible trading interval of +/-$0.84 (+/-1.63%) up or down from last closing price. If BioShares Biotechnology Products Fund takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.60 (1.06%) than the resistance at $58.63 (14.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BioShares Biotechnology Products Fund ETF A Buy?
BioShares Biotechnology Products Fund holds several negative signals and is within a wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.
Current score: -2.657 Sell Candidate Downgraded
Predicted Opening Price for BioShares Biotechnology Products Fund of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $51.19 ( 0.0959%) | $51.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.34 | 0.384 % | |
| R2 | 51.28 | 0.274 % | ||
| R1 | 51.25 | 0.206 % | ||
| Current price: | 51.14 | |||
| Support | S1 | 51.14 | -0.0140 % | |
| S2 | 51.10 | -0.0819 % | ||
| S3 | 51.04 | -0.192 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.69 | 16.71 % | |
| R2 | 58.66 | 14.70 % | ||
| R1 | 58.63 | 14.64 % | ||
| Current price | 51.14 | |||
| Support | S1 | 50.60 | -1.06% | |
| S2 | 50.43 | -1.39% | ||
| S3 | 0 | . |
BBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 19, 2017 | Dec 20, 2017 | Dec 27, 2017 | $0.0720 | 0.176% |
| 2 | Dec 21, 2015 | Dec 21, 2015 | Dec 29, 2015 | $0.397 | 1.27% |
FAQ
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