LEGG MASON SMALL-CAP QUALITY VALUE LEGG ETF Forecast
Weaker technical forecast for LEGG MASON SMALL-CAP QUALITY VALUE LEGG as ETF downgraded to Sell Candidate.
(Updated on Mar 27, 2024)
The LEGG MASON SMALL-CAP QUALITY VALUE LEGG ETF price gained 1.98% on the last trading day (Wednesday, 27th Mar 2024), rising from $40.36 to $41.16. During the last trading day the ETF fluctuated 1.66% from a day low at $40.49 to a day high of $41.16. The price has risen in 6 of the last 10 days and is up by 0.98% over the past 2 weeks. Volume fell on the last day by -882 shares and in total, 190 shares were bought and sold for approximately $7.82 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect LEGG MASON SMALL-CAP QUALITY VALUE LEGG ETF with a 90% probability to be traded between $40.00 and $42.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SQLV Signals & Forecast
The LEGG MASON SMALL-CAP QUALITY VALUE LEGG 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 $40.63 and $40.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 3.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Thursday, February 08, 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.
Golden Star
The ETF had a Golden Star Signal on Thursday, February 08, 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 LEGG MASON SMALL-CAP QUALITY VALUE LEGG ETF
LEGG MASON SMALL-CAP QUALITY VALUE LEGG finds support from accumulated volume at $39.92 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 $0.671 between high and low, or 1.66%. For the last week the ETF has had daily average volatility of 0.665%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SQLV) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect LEGG MASON SMALL-CAP QUALITY VALUE ETF LEGG MASON SMALL-CAP QUALITY VALUE ETF to open at $40.93, and during the day (based on 14 day Average True Range), to move between $40.73 and $41.58, which gives a possible trading interval of +/-$0.421 (+/-1.02%) up or down from last closing price. If LEGG MASON SMALL-CAP QUALITY VALUE ETF LEGG MASON SMALL-CAP QUALITY VALUE ETF takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.27 (0.28%) than the support at $39.92 (3.00%), 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 LEGG MASON SMALL-CAP QUALITY VALUE ETF LEGG MASON SMALL-CAP QUALITY VALUE ETF ETF A Buy?
LEGG MASON SMALL-CAP QUALITY VALUE LEGG holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.093 Sell Candidate Downgraded
Predicted Opening Price for LEGG MASON SMALL-CAP QUALITY VALUE ETF LEGG MASON SMALL-CAP QUALITY VALUE ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$40.93 ( 0.543%) | $41.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SQLV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.60 | 1.09 % | |
R2 | 41.35 | 0.464 % | ||
R1 | 41.19 | 0.0793 % | ||
Current price: | 41.16 | |||
Support | S1 | 40.68 | -1.17 % | |
S2 | 40.52 | -1.55 % | ||
S3 | 40.26 | -2.17 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.69 | 1.30 % | |
R2 | 41.30 | 0.349 % | ||
R1 | 41.27 | 0.277 % | ||
Current price | 41.16 | |||
Support | S1 | 39.92 | -3.00% | |
S2 | 39.78 | -3.34% | ||
S3 | 39.66 | -3.64% |
SQLV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.106 | 0.257% |
2 | Dec 15, 2023 | Dec 18, 2023 | Dec 21, 2023 | $0.127 | 0.309% |
3 | Sep 15, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.0970 | 0.273% |
4 | Jun 16, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.114 | 0.321% |
5 | Mar 17, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.111 | 0.327% |
FAQ
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