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GRNB Stock Tickeron detected bearish ETF Pattern: Wedge Rising GRNB on May 01, 2023, netting in a 1.09% gain over 2 weeks

A.I.dvisor
at Tickeron.com
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+1.09% Gain from a Successful pattern Wedge Rising
GRNB - VanEck Green Bond ETF
Tickeron
Ticker: GRNB
Company: VanEck Green Bond ETF
Gain from shortening: +1.09%
Confirmed: 05/01/23
Succeeded: 05/18/23
Total length: 20 days
On April 28, 2023, A.I.dvisor detected a Wedge Rising Pattern (Bearish) for VanEck Green Bond ETF (GRNB, $23.59). 3 days later, on May 01, 2023, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On May 18, 2023, the stock hit the target price of $23.32 – resulting in a gain for traders who shorted the stock on the pattern detection date.

GRNB's Indicator enters downward trend

The Aroon Indicator for GRNB entered a downward trend on November 21, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 201 similar instances where the Aroon Indicator formed such a pattern. In of the 201 cases the stock moved lower. This puts the odds of a downward move 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 56 cases where GRNB'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 November 21, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GRNB as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

GRNB moved below its 50-day moving average on October 17, 2024 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 GRNB 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

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where GRNB's RSI Indicator exited the oversold zone, of 33 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for GRNB just turned positive on November 18, 2024. Looking at past instances where GRNB's MACD turned positive, the stock continued to rise in of 57 cases over the following month. 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 GRNB advanced for three days, in of 308 cases, the price rose further within the following month. The odds of a continued upward trend are .

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

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GRNB
Daily Signalchanged days ago
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