MJUS ETFMG US Alternative Harvest ETF Forecast, Technical & Fundamental Analysis
MJUS saw its Stochastic Oscillator peaks and leaves the overbought zone
The Stochastic Oscillator for MJUS moved out of overbought territory on November 27, 2023. This could be a bearish sign for the stock and investors may want to consider selling or taking a defensive position. A.I.dvisor looked at 28 similar instances where the indicator exited the overbought zone. In of the 28 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MJUS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
MJUS broke above its upper Bollinger Band on November 13, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where MJUS's RSI Oscillator exited the oversold zone, of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on December 01, 2023. You may want to consider a long position or call options on MJUS as a result. In of 41 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for MJUS just turned positive on November 06, 2023. Looking at past instances where MJUS's MACD turned positive, the stock continued to rise in of 19 cases over the following month. The odds of a continued upward trend are .
MJUS moved above its 50-day moving average on December 01, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MJUS advanced for three days, in of 108 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 29 cases where MJUS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Miscellaneous
MJUS and
Correlation & Price change
A.I.dvisor tells us that MJUS and THCX have been poorly correlated (+28% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that MJUS and THCX's prices will move in lockstep.
| Ticker / NAME | Correlation To MJUS | 1D Price Change % | ||
|---|---|---|---|---|
| MJUS | 100% | +2.47% | ||
| THCX - MJUS | 28% Poorly correlated | +3.38% | ||
| QCLN - MJUS | 13% Poorly correlated | +3.88% | ||
| JETS - MJUS | 13% Poorly correlated | +2.73% | ||
| XT - MJUS | 8% Poorly correlated | +1.71% | ||
| TAN - MJUS | 7% Poorly correlated | +4.43% | ||
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