Credit Suisse X-Links Crude Oil Shares ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Credit Suisse X-Links Crude Oil Shares ETF after losing 0.94%
(Updated on Apr 19, 2024)
The Credit Suisse X-Links Crude Oil Shares ETF price fell by -0.94% on the last day (Friday, 19th Apr 2024) from $76.40 to $75.68. It has now fallen 7 days in a row. During the last trading day the ETF fluctuated 1.01% from a day low at $75.26 to a day high of $76.02. The price has fallen in 8 of the last 10 days and is down by -3.63% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -22 thousand shares and in total, 37 thousand shares were bought and sold for approximately $2.78 million.
Given the current short-term trend, the ETF is expected to rise 9.08% during the next 3 months and, with a 90% probability hold a price between $82.55 and $86.75 at the end of this 3-month period.
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USOI Signals & Forecast
There are few to no technical positive signals at the moment. The Credit Suisse X-Links Crude Oil Shares 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 $77.42 and $76.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -3.94%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Credit Suisse X-Links Crude Oil Shares ETF
Credit Suisse X-Links Crude Oil Shares finds support from accumulated volume at $75.28 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 $0.760 between high and low, or 1.01%. For the last week the ETF has had daily average volatility of 1.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USOI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Credit Suisse X-Links Crude Oil Shares Covered Call ETN to open at $75.65, and during the day (based on 14 day Average True Range), to move between $74.80 and $76.56, which gives a possible trading interval of +/-$0.88 (+/-1.17%) up or down from last closing price. If Credit Suisse X-Links Crude Oil Shares Covered Call ETN takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.74 (0.08%) than the support at $75.28 (0.53%), 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 Credit Suisse X-Links Crude Oil Shares Covered Call ETN ETF A Buy?
The Credit Suisse X-Links Crude Oil Shares ETF holds several negative signals and despite the positive trend, we believe Credit Suisse X-Links Crude Oil Shares will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -4.068 Sell Candidate Unchanged
Predicted Opening Price for Credit Suisse X-Links Crude Oil Shares Covered Call ETN of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $75.65 ( 0.0352%) | $75.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USOI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.41 | 0.97 % | |
| R2 | 76.12 | 0.585 % | ||
| R1 | 75.94 | 0.348 % | ||
| Current price: | 75.68 | |||
| Support | S1 | 75.36 | -0.419 % | |
| S2 | 75.18 | -0.656 % | ||
| S3 | 74.89 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.40 | 3.59 % | |
| R2 | 77.80 | 2.80 % | ||
| R1 | 75.74 | 0.0793 % | ||
| Current price | 75.68 | |||
| Support | S1 | 75.28 | -0.529% | |
| S2 | 73.74 | -2.56% | ||
| S3 | 73.07 | -3.45% |
USOI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 25, 2024 | $0.89 | 1.18% |
| 2 | Mar 06, 2024 | Mar 19, 2024 | Mar 25, 2024 | $1.71 | 2.24% |
| 3 | Feb 20, 2024 | Feb 20, 2024 | Feb 26, 2024 | $1.54 | 2.09% |
| 4 | Jan 05, 2024 | Jan 19, 2024 | Jan 25, 2024 | $0.84 | 1.15% |
| 5 | Dec 05, 2023 | Dec 19, 2023 | Dec 27, 2023 | $0.767 | 1.07% |
FAQ
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