Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of BNO
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USCommodity Brent Oil Fund LP ETF price ended at $31.47 on Wednesday, after gaining 0.319%.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 27, 2024 Gain 5.15% PDF

The USCommodity Brent Oil Fund LP ETF price gained 0.319% on the last trading day (Wednesday, 27th Mar 2024), rising from $31.37 to $31.47. During the last trading day the ETF fluctuated 0.768% from a day low at $31.23 to a day high of $31.47. The price has risen in 6 of the last 10 days and is up by 2.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 thousand more shares were traded than the day before. In total, 234 thousand shares were bought and sold for approximately $7.36 million.

The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 14.73% during the next 3 months and, with a 90% probability hold a price between $34.64 and $36.95 at the end of this 3-month period.

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BNO Signals & Forecast

The USCommodity Brent Oil Fund LP ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $31.44 and $30.22. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -1.04%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Wednesday, January 03, 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 Wednesday, January 03, 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.

Support, Risk & Stop-loss for USCommodity Brent Oil Fund LP ETF

USCommodity Brent Oil Fund LP finds support from accumulated volume at $29.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.240 (0.768%) between high and low. For the last week, the ETF has had daily average volatility of 0.97%.

Our recommended stop-loss: $30.23 (-3.95%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (BNO) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect USCommodity Brent Oil Fund LP ETF to open at $31.39, and during the day (based on 14 day Average True Range), to move between $31.00 and $31.94, which gives a possible trading interval of +/-$0.475 (+/-1.51%) up or down from last closing price. If USCommodity Brent Oil Fund LP ETF takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $31.60 (0.41%) than the support at $29.93 (4.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is USCommodity Brent Oil Fund LP ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for USCommodity Brent Oil Fund LP ETF to perform well in the short-term.

Current score: 3.473 Buy Candidate Unchanged

Predicted Opening Price for USCommodity Brent Oil Fund LP ETF of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$31.39 ( 0.254%) $31.47

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

Trading levels for BNO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 31.63 0.508 %
R2 31.54 0.217 %
R1 31.48 0.0371 %
Current price: 31.47
Support S1 31.30 -0.546 %
S2 31.24 -0.726 %
S3 31.15 -1.02 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 31.80 1.05 %
R2 31.65 0.572 %
R1 31.60 0.413 %
Current price 31.47
Support S1 29.93 -4.89%
S2 29.36 -6.70%
S3 28.24 -10.26%

FAQ

What is the symbol for USCommodity Brent Oil Fund LP ETF ETF and on which exchange is it traded?
The symbol for USCommodity Brent Oil Fund LP ETF is BNO and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell USCommodity Brent Oil Fund LP ETF ETF?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for USCommodity Brent Oil Fund LP ETF to perform well in the short-term.

How to buy USCommodity Brent Oil Fund LP ETF ETF?
USCommodity Brent Oil Fund LP ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy USCommodity Brent Oil Fund LP ETF ETF.

What's the current price of USCommodity Brent Oil Fund LP ETF ETF?
As of the end of day on the 2024-03-27, the price of an USCommodity Brent Oil Fund LP ETF (BNO) share was $31.47.

What is the 52-week high and low for USCommodity Brent Oil Fund LP ETF ETF?
The 52-week high for USCommodity Brent Oil Fund LP ETF ETF is $32.94 and the 52-week low is $24.04.

What is the market capitalization of USCommodity Brent Oil Fund LP ETF ETF?
As of the 2024-03-27, the market capitalization of USCommodity Brent Oil Fund LP ETF is 127.408M.
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