United States Natural Gas Fund, LP ETF Forecast

$14.57
+0.220 (+1.53%)
At Close: Mar 28, 2024
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.
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Green day on Thursday for United States Natural Gas Fund, LP ETF after gaining 1.53%
(Updated on Mar 28, 2024)

Sell candidate since Mar 08, 2024 Loss -9.62% PDF

The United States Natural Gas Fund, LP ETF price gained 1.53% on the last trading day (Thursday, 28th Mar 2024), rising from $14.35 to $14.57. During the last trading day the ETF fluctuated 3.86% from a day low at $14.37 to a day high of $14.92. The price has fallen in 7 of the last 10 days and is down by -6.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 457 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $118.27 million.

The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 52.46% during the next 3 months and, with a 90% probability hold a price between $18.84 and $43.03 at the end of this 3-month period.

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UNG Signals & Forecast

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. The United States Natural Gas Fund, LP ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.96 and $15.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, January 24, 2024, and so far it has fallen -30.82%. 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).

Support, Risk & Stop-loss for United States Natural Gas Fund, LP ETF

United States Natural Gas Fund, LP finds support from accumulated volume at $14.35 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 $0.555 between high and low, or 3.86%. For the last week, the ETF has had daily average volatility of 2.27%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (UNG) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect United States Natural Gas Fund, LP to open at $14.62, and during the day (based on 14 day Average True Range), to move between $13.93 and $15.21, which gives a possible trading interval of +/-$0.641 (+/-4.40%) up or down from last closing price. If United States Natural Gas Fund, LP takes out the full calculated possible swing range there will be an estimated 8.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.35 (1.51%) than the resistance at $15.52 (6.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is United States Natural Gas Fund, LP ETF A Buy?

The United States Natural Gas Fund, LP ETF holds several negative signals and despite the positive trend, we believe United States Natural Gas Fund, LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.341 Sell Candidate Unchanged

Predicted Opening Price for United States Natural Gas Fund, LP of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$14.62 ( 0.332%) $14.57

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

Trading levels for UNG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 15.17 4.14 %
R2 14.96 2.69 %
R1 14.83 1.79 %
Current price: 14.57
Support S1 14.41 -1.12 %
S2 14.28 -2.02 %
S3 14.06 -3.48 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 16.62 14.07 %
R2 16.17 10.98 %
R1 15.52 6.52 %
Current price 14.57
Support S1 14.35 -1.51%
S2 0 .
S3 0 .

FAQ

What is the symbol for United States Natural Gas Fund, LP ETF and on which exchange is it traded?
The symbol for United States Natural Gas Fund, LP is UNG and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell United States Natural Gas Fund, LP ETF?
The United States Natural Gas Fund, LP ETF holds several negative signals and despite the positive trend, we believe United States Natural Gas Fund, LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

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

What's the current price of United States Natural Gas Fund, LP ETF?
As of the end of day on the 2024-03-28, the price of an United States Natural Gas Fund, LP (UNG) share was $14.57.

What is the 52-week high and low for United States Natural Gas Fund, LP ETF?
The 52-week high for United States Natural Gas Fund, LP ETF is $21.14 and the 52-week low is $4.50.

What is the market capitalization of United States Natural Gas Fund, LP ETF?
As of the 2024-03-28, the market capitalization of United States Natural Gas Fund, LP is 180.786M.
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