BNO - USCommodity Brent Oil Fund LP ETF

Exchange: NYSE

BNO - USCommodity Brent Oil Fund LP ETF

Exchange: NYSE

Fri 20'th Jul 2018

PERIOD 2018-04-23 - 2018-07-20
CHANGE 0.54%
PRICE $20.45





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USCommodity Brent Oil Fund LP ETF Stock Analysis

Technical stock analysis for Fri 20'th Jul 2018

Hold candidate since 2018-07-19 Gain 0.54%
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 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.

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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.

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A sell signal from a double bottom formation was found on Tuesday July 10, 2018 with a target of $21.34. Despite the objective of the signal formation has been reached the stock may continue to fall.

Relative Strength Index (RSI)

RSI14 is 30 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 $20.40.

Support: $20.40 Price: $20.45 Resistance: $20.75


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.)

Overall risk:

Very Low Low Medium High Very High


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.


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