81% Chance of Reversal: ProShares K-1 Free Crude Oil Strategy (OILK) Technical Analysis and Market Overview
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ProShares K-1 Free Crude Oil Strategy (OILK) has recently shown signs of a potential trend reversal in its price movement. On June 20, 2023, the Stochastic Oscillator for OILK left the overbought zone, indicating a possible reversal in the stock's price trend. This development may present an opportunity for traders to consider selling the stock or taking a defensive position. A.I.dvisor's analysis identified 70 similar cases where OILK's stochastic oscillator exited the overbought zone, with 57 of them resulting in successful outcomes. Based on this historical data, the odds of success in a potential trend reversal are estimated to be around 81%.
It's important to note that while the Stochastic Oscillator suggests a possible reversal, market dynamics should be taken into account. Traders should consider other technical indicators, fundamental factors, and market conditions before making any trading decisions regarding OILK.
Furthermore, the Momentum Indicator for OILK turned positive on June 14, 2023, indicating a potential new upward trend. This could present an alternative perspective for traders, suggesting the possibility of buying the stock or exploring call options. Tickeron's A.I.dvisor looked at 79 similar instances where the indicator turned positive, and in 72 of those cases, the stock moved higher in the following days. The odds of a continued upward move are estimated to be around 90%.
Considering these technical indicators, it is crucial to conduct thorough analysis and consider other market factors before making trading decisions. The financial markets can be unpredictable, and it is essential to exercise caution and carefully assess the risks associated with any investment.
As always, it's recommended to consult with a financial advisor or professional who can provide personalized guidance based on your individual investment goals and risk tolerance.
ProShares K-1 Free Crude Oil Strategy (OILK) is showing technical indications of a potential trend reversal. Traders should analyze the market dynamics, consider the odds of success, and evaluate their risk appetite before making any trading decisions related to OILK. Empower your trading decisions with the unrivaled intelligence of Tickeron's AI robots, shaping the future of the financial market.
Momentum Indicator for OILK turns positive, indicating new upward trend
OILK saw its Momentum Indicator move above the 0 level on August 29, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 81 similar instances where the indicator turned positive. In of the 81 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OILK advanced for three days, in of 351 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 355 cases where OILK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for OILK moved out of overbought territory on September 20, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 39 similar instances where the indicator moved out of overbought territory. In of the 39 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for OILK turned negative on September 22, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 52 similar instances when the indicator turned negative. In of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where OILK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
OILK broke above its upper Bollinger Band on August 31, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
Industry description
General Information
Category CommoditiesBroadBasket
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| JDEUX | 33.21 | -0.50 | -1.48% |
| JPMorgan US Research Enhanced Equity R6 | |||
| SPVZX | 20.22 | -0.34 | -1.65% |
| PGIM Quant Solutions Mid-Cap Val Z | |||
| FCLCX | 29.83 | -0.51 | -1.68% |
| Fidelity Advisor® Industrials C | |||
| JEMZX | 8.11 | -0.14 | -1.70% |
| JHancock Emerging Markets Equity C | |||
| EMQIX | 6.84 | -0.12 | -1.72% |
| Ashmore Emerging Markets Active Eq Instl | |||
OILK and
Correlation & Price change
A.I.dvisor tells us that OILK and SLV have been poorly correlated (+23% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that OILK and SLV's prices will move in lockstep.
| Ticker / NAME | Correlation To OILK | 1D Price Change % | ||
|---|---|---|---|---|
| OILK | 100% | +0.40% | ||
| SLV - OILK | 23% Poorly correlated | -1.13% | ||
| PHYS - OILK | 14% Poorly correlated | -0.74% | ||
| GLDM - OILK | 13% Poorly correlated | -0.84% | ||
| GLD - OILK | 13% Poorly correlated | -0.80% | ||
| IAU - OILK | 13% Poorly correlated | -0.80% |