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GINN Stock Tickeron detected bearish ETF Pattern: Triangle Symmetrical Bottom GINN on October 22, 2024, netting in a 1.15% gain over 1 day

A.I.dvisor
at Tickeron.com
10/25/24
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+1.15% Gain from a Successful pattern Triangle Symmetrical Bottom
GINN - Goldman Sachs Innovate Equity ETF
Tickeron
Ticker: GINN
Company: Goldman Sachs Innovate Equity ETF
Gain from shortening: +1.15%
Confirmed: 10/22/24
Succeeded: 10/23/24
Total length: 1 day
On October 22, 2024, A.I.dvisor detected a Triangle Symmetrical Bottom Pattern (Bearish) for Goldman Sachs Innovate Equity ETF (GINN, $61.46). On October 22, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On October 23, 2024, the stock hit the target price of $59.73 – resulting in a gain for traders who shorted the stock on the pattern detection date.

GINN's RSI Oscillator peaks and leaves overbought zone

The 10-day RSI Indicator for GINN moved out of overbought territory on October 01, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 32 instances where the indicator moved out of the overbought zone. In of the 32 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 46 cases where GINN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Momentum Indicator moved below the 0 level on October 30, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GINN as a result. In of 55 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 GINN turned negative on October 15, 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 31 similar instances when the indicator turned negative. In of the 31 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 GINN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GINN advanced for three days, in of 283 cases, the price rose further within the following month. The odds of a continued upward trend are .

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

The Aroon Indicator entered an Uptrend today. In of 244 cases where GINN Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

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Category Technology

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Technology
Address
Goldman Sachs ETF Trust200 West StreetNew York
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