Columbia US ESG (ESGS) Equity Income ETF: A Potential 90% Chance of Uptrend as Stochastic Oscillator Leaves Oversold Zone
June 27, 2023 marked an important shift for the Columbia US ESG Equity Income ETF (ESGS, $37.46). Its Stochastic Oscillator, a momentum indicator, exited the oversold zone, suggesting a potential price trend reversal. This could signal a ripe opportunity to buy the stock or explore call options. According to the A.I.dvisor, the odds of successful outcomes in 54 out of 61 similar past cases were impressive, standing at 89%. At Tickeron, we believe in unleashing the power of artificial intelligence to enhance trading decisions, and our marketing team plays a pivotal role in sharing this vision with the world.
Before we dive into the intricacies of this signal, let's understand the basics. The fund seeks investment results closely corresponding to the Beta Advantage® U.S. ESG Equity Income Index performance before fees and expenses. With at least 80% of its assets in the index component securities, the index aims to provide exposure to U.S. large- and mid-cap companies. It leverages the investment manager’s proprietary ESG Materiality Ratings, focusing on companies offering total return opportunities.
The average market capitalization across the Columbia US ESG Equity Income ETF is a significant 51.21B, ranging from 4.06B (AAP) to a staggering 350.12B (AVGO). This diversity demonstrates the fund's commitment to a blend of stability and growth potential.
Interestingly, the average weekly price growth across the fund's stocks has been 0%. When we expand this to the monthly and quarterly levels, we see a growth of 3% and 1%, respectively. Standout performers in the ETF include SIRI, with a stellar price growth of 17%, and GIS, which fell behind with a -6% change.
Another noteworthy trend is the reduced trading activity, with the weekly, monthly, and quarterly volume growth rates standing at -62%, -65%, and -46%, respectively. However, this decrease in volume hasn't dampened the ETF's prospects.
Adding to the optimistic forecast, ESGS broke its lower Bollinger Band on May 24, 2023, indicating an upward trend. Historically, in 40 out of 43 instances where ESGS's price broke its lower band, the price rose in the following month. Therefore, this suggests a high probability (90%) of a continued upward trend.
In light of these events, the Columbia US ESG Equity Income ETF presents an enticing opportunity for investors seeking to capitalize on the potential uptrend. As always, we advise monitoring market developments closely and making informed, strategic decisions based on a variety of data points. Happy investing!
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ESGS in downward trend: 10-day moving average moved below 50-day moving average on September 15, 2023
The 10-day moving average for ESGS crossed bearishly below the 50-day moving average on September 15, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 15, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on ESGS as a result. In of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for ESGS turned negative on September 19, 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 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .
ESGS moved below its 50-day moving average on September 15, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ESGS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for ESGS entered a downward trend on September 06, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator entered the oversold zone -- be on the watch for ESGS's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ESGS advanced for three days, in of 343 cases, the price rose further within the following month. The odds of a continued upward trend are .
ESGS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeValue
ESGS and
Correlation & Price change
A.I.dvisor tells us that ESGS and VTV have been poorly correlated (+3% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that ESGS and VTV's prices will move in lockstep.
| Ticker / NAME | Correlation To ESGS | 1D Price Change % | ||
|---|---|---|---|---|
| ESGS | 100% | -1.10% | ||
| VTV - ESGS | 3% Poorly correlated | -1.23% | ||
| SCHD - ESGS | 2% Poorly correlated | -1.19% | ||
| DIA - ESGS | 2% Poorly correlated | -1.16% | ||
| IWD - ESGS | 1% Poorly correlated | -1.27% | ||
| VYM - ESGS | 1% Poorly correlated | -1.30% |