BWET Stock Tickeron detected bullish ETF Pattern: Triple Bottoms BWET on September 30, 2024, netting in a 11.45% gain over 6 days

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BWET - Breakwave Tanker Shipping ETF

Ticker: BWET

Company: Breakwave Tanker Shipping ETF

Gain: +11.45%

Confirmed: 09/30/24

Succeeded: 10/03/24

Total length: 6 days

BWET's RSI Oscillator ascending out of oversold territory

The RSI Indicator for BWET moved out of oversold territory on November 11, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 12 similar instances when the indicator left oversold territory. In of the 12 cases the stock moved higher. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 19 cases where BWET's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BWET advanced for three days, in of 86 cases, the price rose further within the following month. The odds of a continued upward trend are .

BWET may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on October 15, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BWET as a result. In of 20 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 BWET turned negative on October 22, 2024. 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 16 similar instances when the indicator turned negative. In of the 16 cases the stock turned lower in the days that followed. This puts the odds of success at .

BWET moved below its 50-day moving average on October 22, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for BWET crossed bearishly below the 50-day moving average on October 24, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 5 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 .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BWET 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 BWET entered a downward trend on November 11, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.