Fri 20'th Jul 2018
USCommodity Brent Oil Fund LP ETF Stock Analysis
Technical stock analysis for Fri 20'th Jul 2018
|Shorts||3.42% ( 2013-01-15 )|
USCommodity Brent Oil Fund LP ETF gained 0.54% in the last trading day, rising from $20.34 to $20.45 The price has risen in 7 of the last 10 days , but is still down by -5.41% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 104 702 more shares were traded than the day before. In total, 459 292 shares bought and sold for approximately $9.39 million.
USCommodity Brent Oil Fund LP ETF is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $20.16 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect USCommodity Brent Oil Fund LP ETF with 90% probability to be traded between $20.17 and $22.24 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Monday July 16, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. USCommodity Brent Oil Fund LP ETF holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $20.50 and $21.13. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 30 and the stock is currently not being overbought or oversold
Support & Resistance
USCommodity Brent Oil Fund LP ETF finds support from accumulated volume at $20.40.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.18 (0.88%) between high and low. For the last week, the stock has had a daily average volatility of 2.05%.
Our recommended stoploss: $19.16 (-6.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 4 days ago.)
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USCommodity Brent Oil Fund LP ETF holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development.Click for Top 5 Hold/Accumulates
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