USCommodity 12 Month Oil ETF Forecast and Stock Analysis
Technical USL stock analysis for February 21, 2019.
|Shorts||1.42% ( 2013-01-15 )|
USCommodity 12 Month Oil ETF fell by -0.31% in the last day from $21.99 to $21.92 The price has risen in 5 of the last 10 days and is up by 4.54% over the past 2 weeks. Volume has increased in the last day by 33 476 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 46 998 shares bought and sold for approximately $1.03 million.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the USL stock was $21.92. This is 0.31% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 0.46% from a day low at $21.89 to a day high of $21.99.
30 day high of the USL stock price was $22.12 and low was $19.90.
90 day high was $22.12 and low was $17.05.
52 week high for the USCommodity 12 Month Oil ETF - $28.54 and low - $17.05.
USCommodity 12 Month Oil ETF lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $22.42 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.07% during the next 3 months and, with 90% probability hold a price between $20.74 and $24.90 at the end of this period.
USCommodity 12 Month Oil ETF holds buy signals from both short- and long-term moving averages. In addition, 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 $21.46 and $20.46. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday February 20, 2019, which indicates further falls until a new bottom pivot has been found. USCommodity 12 Month Oil ETF gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $20.61 and $20.35.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, USCommodity 12 Month Oil ETF finds support just below today's level at $20.61. If this is broken, then the next support from accumulated volume will be at $20.35 and $18.36.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.10 (0.46%) between high and low. For the last week, the stock has had a daily average volatility of 0.81%.
Our recommended stoploss: $21.27 (-2.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.