BNO - USCommodity Brent Oil Fund LP ETF

Exchange: NYSE

BNO - USCommodity Brent Oil Fund LP ETF

Exchange: NYSE
#809()/7600

Tue 18'th Sep 2018

PERIOD 2018-06-19 - 2018-09-18
CHANGE 1.33%
PRICE $22.09
VOLUME
Buy
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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USCommodity Brent Oil Fund LP ETF Stock Analysis

Technical stock analysis for Tue 18'th Sep 2018

Buy candidate since 2018-09-18
Shorts 3.42% ( 2013-01-15 )
Cash n/a
Loans n/a
Beta 0.98
ROA n/a

USCommodity Brent Oil Fund LP ETF gained 1.33% in the last trading day, rising from $21.80 to $22.09 The price has been going up and down for this period, and there has been a 1.7% gain for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1 703 more shares were traded than the day before. In total, 95 230 shares bought and sold for approximately $2.10 million.

Trend

USCommodity Brent Oil Fund LP ETF is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $22.56 will give a strong buy 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 $20.38 and $23.00 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.

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Signals

Only positive signals in the chart today. USCommodity Brent Oil Fund LP ETF holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $21.95 and $21.06. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday September 17, 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.

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Relative Strength Index (RSI)

RSI14 is 67 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

USCommodity Brent Oil Fund LP ETF finds support from accumulated volume at $21.62.

Support: $21.62 Price: $22.09 Resistance: $22.12

Risk

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 $0.30 (1.36%) between high and low. For the last week, the stock has had a daily average volatility of 1.50%.

Our recommended stoploss: $20.89 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

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 this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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