Credit Suisse X-Links Crude Oil Shares ETF Forecast
Red day on Tuesday for Credit Suisse X-Links Crude Oil Shares
(Updated on May 07, 2024)
The Credit Suisse X-Links Crude Oil Shares ETF price fell by -0.0687% on the last day (Tuesday, 7th May 2024) from $72.78 to $72.73. During the last trading day the ETF fluctuated 2.86% from a day low at $71.71 to a day high of $73.76. The price has fallen in 8 of the last 10 days and is down by -5.3% 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 -8 thousand shares and in total, 41 thousand shares were bought and sold for approximately $2.96 million.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $72.32 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 2.75% during the next 3 months and, with a 90% probability hold a price between $74.31 and $81.63 at the end of this 3-month period.
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USOI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 0.664%. 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. 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. 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 $73.69 and $76.47. A break-up above any of these levels will issue buy signals. 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 $72.25 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 $2.05 between high and low, or 2.86%. For the last week, the ETF has had daily average volatility of 2.13%.
Our recommended stop-loss: $68.23 (-6.18%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (USOI) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Credit Suisse X-Links Crude Oil Shares Covered Call ETN to open at $72.73, and during the day (based on 14 day Average True Range), to move between $71.51 and $73.95, which gives a possible trading interval of +/-$1.22 (+/-1.67%) 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 3.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.07 (0.47%) than the support at $72.25 (0.66%), 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?
Credit Suisse X-Links Crude Oil Shares holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.163 Hold/Accumulate Unchanged
Predicted Opening Price for Credit Suisse X-Links Crude Oil Shares Covered Call ETN of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $72.73 ( 0.0046%) | $72.73 |
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 | 74.78 | 2.82 % | |
| R2 | 74.00 | 1.75 % | ||
| R1 | 73.52 | 1.08 % | ||
| Current price: | 72.73 | |||
| Support | S1 | 71.95 | -1.07 % | |
| S2 | 71.47 | -1.74 % | ||
| S3 | 70.68 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.74 | 4.14 % | |
| R2 | 73.74 | 1.39 % | ||
| R1 | 73.07 | 0.467 % | ||
| Current price | 72.73 | |||
| Support | S1 | 72.25 | -0.660% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
USOI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 25, 2024 | $0.89 | 1.15% |
| 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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