PROSHARES ULTRA OIL & GAS PROSHARES Stock Forecast
Stronger technical forecast for PROSHARES ULTRA OIL & GAS PROSHARES stock price after Thursday trading.
(Updated on Apr 25, 2024)
The PROSHARES ULTRA OIL & GAS PROSHARES stock price fell by -0.355% on the last day (Thursday, 25th Apr 2024) from £282.00 to £281.00. During the last trading day the stock fluctuated 0.88% from a day low at £280.52 to a day high of £283.00. The price has risen in 5 of the last 10 days and is up by 1.44% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -58 thousand shares and in total, 114 thousand shares were bought and sold for approximately £32.11 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.13% during the next 3 months and, with a 90% probability hold a price between £280.63 and £289.23 at the end of this 3-month period.
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DIG.L Signals & Forecast
The PROSHARES ULTRA OIL & GAS PROSHARES stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £279.57 and £277.23. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.707%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PROSHARES ULTRA OIL & GAS PROSHARES stock
PROSHARES ULTRA OIL & GAS PROSHARES finds support from accumulated volume at £277.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £2.48 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 0.97%.
Our recommended stop-loss: £269.72 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DIG.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS to open at £281.51, and during the day (based on 14 day Average True Range), to move between £277.57 and £284.43, which gives a possible trading interval of +/-£3.43 (+/-1.22%) up or down from last closing price. If PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS takes out the full calculated possible swing range there will be an estimated 2.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £282.00 (0.36%) than the support at £277.00 (1.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PROSHARES ULTRA OIL & GAS PROSHARES stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.538 Buy Candidate Upgraded
Predicted Opening Price for PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £281.51 ( 0.180%) | £281.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 283.99 | 1.06 % | |
| R2 | 283.04 | 0.726 % | ||
| R1 | 282.45 | 0.517 % | ||
| Current price: | 281.00 | |||
| Support | S1 | 280.56 | -0.157 % | |
| S2 | 279.97 | -0.365 % | ||
| S3 | 279.03 | -0.702 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 283.00 | 0.712 % | ||
| R1 | 282.00 | 0.356 % | ||
| Current price | 281.00 | |||
| Support | S1 | 277.00 | -1.42% | |
| S2 | 276.00 | -1.78% | ||
| S3 | 274.00 | -2.49% |
DIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 31, 2024 | £4.15 | 1.48% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 29, 2024 | £0.0320 | 0.0117% |
| 3 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | £0.0320 | 0.0122% |
| 4 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.0320 | 0.0116% |
| 5 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £4.10 | 1.37% |
FAQ
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