PowerShares Nasdaq Internet Portfolio ETF Forecast
PowerShares Nasdaq Internet Portfolio ETF downgraded to Sell Candidate
(Updated on Apr 15, 2024)
The PowerShares Nasdaq Internet Portfolio ETF price fell by -2.24% on the last day (Monday, 15th Apr 2024) from $39.76 to $38.87. During the last trading day the ETF fluctuated 3.12% from a day low at $38.83 to a day high of $40.04. The price has fallen in 6 of the last 10 days and is down by -2.68% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 thousand shares were bought and sold for approximately $2.39 million.
Given the current short-term trend, the ETF is expected to rise 9.39% during the next 3 months and, with a 90% probability hold a price between $42.52 and $44.46 at the end of this 3-month period.
PNQI Signals & Forecast
There are few to no technical positive signals at the moment. The PowerShares Nasdaq Internet Portfolio ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $39.93 and $39.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for PowerShares Nasdaq Internet Portfolio ETF
PowerShares Nasdaq Internet Portfolio finds support from accumulated volume at $38.72 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.21 between high and low, or 3.12%. For the last week the ETF has had daily average volatility of 1.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNQI) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect PowerShares Nasdaq Internet Portfolio to open at $39.25, and during the day (based on 14 day Average True Range), to move between $38.28 and $39.46, which gives a possible trading interval of +/-$0.590 (+/-1.52%) up or down from last closing price. If PowerShares Nasdaq Internet Portfolio takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.89 (0.05%) than the support at $38.72 (0.39%), 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 PowerShares Nasdaq Internet Portfolio ETF A Buy?
The PowerShares Nasdaq Internet Portfolio ETF holds several negative signals and despite the positive trend, we believe PowerShares Nasdaq Internet Portfolio will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. 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 Sell candidate.
Current score: -4.753 Sell Candidate Downgraded
Predicted Opening Price for PowerShares Nasdaq Internet Portfolio of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $39.25 ( 0.97%) | $38.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNQI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.46 | 4.08 % | |
| R2 | 39.99 | 2.89 % | ||
| R1 | 39.71 | 2.16 % | ||
| Current price: | 38.87 | |||
| Support | S1 | 38.78 | -0.220 % | |
| S2 | 38.50 | -0.95 % | ||
| S3 | 38.04 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.55 | 1.75 % | |
| R2 | 38.92 | 0.129 % | ||
| R1 | 38.89 | 0.0515 % | ||
| Current price | 38.87 | |||
| Support | S1 | 38.72 | -0.386% | |
| S2 | 38.30 | -1.47% | ||
| S3 | 38.12 | -1.93% |
PNQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2017 | Dec 18, 2017 | Dec 29, 2017 | $0.0270 | 0.117% |
| 2 | Dec 21, 2012 | Dec 21, 2012 | Dec 31, 2012 | $0.0220 | 0.265% |
| 3 | Dec 19, 2008 | Dec 19, 2008 | Dec 31, 2008 | $0.0130 | 0.473% |
FAQ
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