Gordmans Stores ETF Forecast
Gordmans Stores ETF downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Feb 07, 2020)
The Gordmans Stores ETF price fell by -1.66% on the last day (Friday, 7th Feb 2020) from $59.61 to $58.62. During the last trading day the ETF fluctuated 0% from a day low at $58.62 to a day high of $58.62. The price has risen in 6 of the last 10 days and is up by 2.12% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -5 thousand shares and in total, 29 shares were bought and sold for approximately $1.70 thousand.
The ETF has broken the narrow and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $58.62. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GMAN Signals & Forecast
The Gordmans Stores ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $58.92. On a fall, the ETF will find some support from the long-term average at approximately $55.53. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, February 05, 2020, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Gordmans Stores ETF
Gordmans Stores finds support from accumulated volume at $57.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.375%
Our recommended stop-loss: $55.92 (-4.61%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (GMAN) For The Upcoming Trading Day Of Monday 10th
For the upcoming trading day on Monday, 10th we expect Gordmans Stores to open at $58.62, and during the day (based on 14 day Average True Range), to move between $58.01 and $59.23, which gives a possible trading interval of +/-$0.607 (+/-1.04%) up or down from last closing price. If Gordmans Stores takes out the full calculated possible swing range there will be an estimated 2.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.48 (1.47%) than the support at $57.70 (1.57%), 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 Gordmans Stores ETF A Buy?
Gordmans Stores holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.741 Hold/Accumulate Downgraded
Predicted Opening Price for Gordmans Stores of Monday, February 10, 2020
Fair opening price February 10, 2020 | Current price |
---|---|
$58.62 ( 0%) | $58.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 58.62 | . | |
R2 | 58.62 | . | ||
R1 | 58.62 | . | ||
Current price: | 58.62 | |||
Support | S1 | 58.62 | . | |
S2 | 58.62 | . | ||
S3 | 58.62 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.62 | 1.71 % | |
R2 | 59.61 | 1.69 % | ||
R1 | 59.48 | 1.47 % | ||
Current price | 58.62 | |||
Support | S1 | 57.70 | -1.57% | |
S2 | 54.04 | -7.80% | ||
S3 | 54.03 | -7.83% |
FAQ
Click here for our free guide on how to buy Gordmans Stores ETF.