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SLX
ETF ticker: NYSE ARCA
AS OF
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Net Assets
133.5M

SLX VanEck Steel ETF Forecast, Technical & Fundamental Analysis

Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for SLX with price predictions
07:00 PM EST Dec 03, 2023

SLX in downward trend: price may drop because broke its higher Bollinger Band on December 01, 2023

SLX broke above its upper Bollinger Band on December 01, 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. The A.I.dvisor looked at 55 similar instances where the stock broke above the upper band. In of the 55 cases the stock fell afterwards. This puts the odds of success at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 13 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SLX 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 Momentum Indicator moved above the 0 level on November 01, 2023. You may want to consider a long position or call options on SLX as a result. In of 77 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 SLX just turned positive on October 30, 2023. Looking at past instances where SLX's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .

SLX moved above its 50-day moving average on November 02, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for SLX crossed bullishly above the 50-day moving average on November 10, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 11 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 SLX advanced for three days, in of 321 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 311 cases where SLX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed
A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are Vale SA (NYSE:VALE), Nucor Corp (NYSE:NUE), ArcelorMittal (NYSE:MT), Cleveland-Cliffs (NYSE:CLF), United States Steel Corp (NYSE:X).

Industry description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE® Arca Steel Index™. The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the steel sector. Such companies may include small- and medium-capitalization companies and foreign and emerging market issuers. It may concentrate its investments in a particular industry or group of industries to the extent that the Steel Index concentrates in an industry or group of industries. The fund is non-diversified.

Market Cap

The average market capitalization across the VanEck Steel ETF ETF is 18.02B. The market cap for tickers in the group ranges from 629.32M to 111.65B. RIO holds the highest valuation in this group at 111.65B. The lowest valued company is ZEUS at 629.32M.

High and low price notable news

The average weekly price growth across all stocks in the VanEck Steel ETF ETF was 2%. For the same ETF, the average monthly price growth was 7%, and the average quarterly price growth was 14%. WOR experienced the highest price growth at 20%, while ATI experienced the biggest fall at -5%.

Volume

The average weekly volume growth across all stocks in the VanEck Steel ETF ETF was 63%. For the same stocks of the ETF, the average monthly volume growth was 36% and the average quarterly volume growth was 19%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 26
P/E Growth Rating: 28
Price Growth Rating: 45
SMR Rating: 57
Profit Risk Rating: 40
Seasonality Score: 35 (-100 ... +100)
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SLX and

Correlation & Price change

A.I.dvisor indicates that over the last year, SLX has been closely correlated with GNR. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if SLX jumps, then GNR could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SLX
1D Price
Change %
SLX100%
-1.25%
GNR - SLX
83%
Closely correlated
-1.68%
VAW - SLX
80%
Closely correlated
-0.93%
GUNR - SLX
78%
Closely correlated
-1.60%
XLB - SLX
78%
Closely correlated
-1.16%
LIT - SLX
63%
Loosely correlated
-3.04%
More