MJ Stock Tickeron detected bearish ETF Pattern: Triangle Descending MJ on October 10, 2024, netting in a 20.77% gain over 1 month

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MJ - Amplify Alternative Harvest ETF

Ticker: MJ

Company: Amplify Alternative Harvest ETF

Gain from shortening: +20.77%

Confirmed: 10/10/24

Succeeded: 11/11/24

Total length: 32 days

Momentum Indicator for MJ turns negative, indicating new downward trend

MJ saw its Momentum Indicator move below the 0 level on November 05, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 92 similar instances where the indicator turned negative. In of the 92 cases, the stock moved further down in the following days. The odds of a decline are at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for MJ turned negative on October 31, 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 41 similar instances when the indicator turned negative. In of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at .

MJ moved below its 50-day moving average on November 06, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for MJ crossed bearishly below the 50-day moving average on November 07, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 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 MJ 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 Indicator points to a transition from a downward trend to an upward trend -- in cases where MJ's RSI Indicator exited the oversold zone, of 38 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 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 MJ advanced for three days, in of 220 cases, the price rose further within the following month. The odds of a continued upward trend are .

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