KraneShares CSI China Internet ETF Forecast
Stronger technical forecast for KraneShares CSI China Internet ETF price after Thursday trading.
(Updated on Mar 28, 2024)
The KraneShares CSI China Internet ETF price gained 0.652% on the last trading day (Thursday, 28th Mar 2024), rising from $26.08 to $26.25. During the last trading day the ETF fluctuated 0.95% from a day low at $26.22 to a day high of $26.47. The price has fallen in 6 of the last 10 days and is down by -0.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 642 thousand more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $495.96 million.
The ETF lies in the middle of a wide and weak 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 5.89% during the next 3 months and, with a 90% probability hold a price between $25.72 and $29.00 at the end of this 3-month period.
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KWEB Signals & Forecast
The KraneShares CSI China Internet 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 $26.33. On a fall, the ETF will find some support from the long-term average at approximately $25.67. 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). 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 Wednesday, March 13, 2024, and so far it has fallen -3.17%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for KraneShares CSI China Internet ETF
KraneShares CSI China Internet finds support from accumulated volume at $24.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.250 between high and low, or 0.95%. For the last week, the ETF has had daily average volatility of 1.14%.
Our recommended stop-loss: $25.12 (-4.31%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (KWEB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect KraneShares CSI China Internet ETF to open at $26.31, and during the day (based on 14 day Average True Range), to move between $25.69 and $26.81, which gives a possible trading interval of +/-$0.560 (+/-2.14%) up or down from last closing price. If KraneShares CSI China Internet ETF takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.44 (0.72%) than the support at $24.95 (4.95%), 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 KraneShares CSI China Internet 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 KraneShares CSI China Internet ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.499 Buy Candidate Upgraded
Predicted Opening Price for KraneShares CSI China Internet ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$26.31 ( 0.241%) | $26.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KWEB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.56 | 1.19 % | |
R2 | 26.47 | 0.83 % | ||
R1 | 26.41 | 0.605 % | ||
Current price: | 26.25 | |||
Support | S1 | 26.22 | -0.123 % | |
S2 | 26.16 | -0.347 % | ||
S3 | 26.06 | -0.711 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.11 | 3.28 % | |
R2 | 26.80 | 2.10 % | ||
R1 | 26.44 | 0.724 % | ||
Current price | 26.25 | |||
Support | S1 | 24.95 | -4.95% | |
S2 | 24.94 | -4.99% | ||
S3 | 23.11 | -11.96% |
KWEB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.0420 | 0.162% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.419 | 1.58% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 31, 2021 | $2.58 | 7.07% |
4 | Dec 28, 2020 | Dec 29, 2020 | Dec 31, 2020 | $0.221 | 0.288% |
5 | Dec 26, 2019 | Dec 27, 2019 | Dec 31, 2019 | $0.0410 | 0.0842% |
FAQ
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