BOIL ETF Forecast
Green day on Friday for BOIL ETF after gaining 1.35%
(Updated on Apr 19, 2024)
The BOIL ETF price gained 1.35% on the last trading day (Friday, 19th Apr 2024), rising from $13.36 to $13.54. During the last trading day the ETF fluctuated 4.62% from a day low at $13.31 to a day high of $13.93. The price has been going up and down for this period, and there has been a 1.5% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $99.51 million.
The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.60 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -42.52% during the next 3 months and, with a 90% probability hold a price between $3.98 and $7.82 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BOIL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 8.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BOIL ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $14.48. On a fall, the ETF will find some support from the short-term average at $13.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for BOIL ETF
BOIL finds support from accumulated volume at $13.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.615 between high and low, or 4.62%. For the last week, the ETF has had daily average volatility of 5.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BOIL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ProShares Ultra Bloomberg Natural Gas to open at $13.59, and during the day (based on 14 day Average True Range), to move between $12.57 and $14.51, which gives a possible trading interval of +/-$0.97 (+/-7.13%) up or down from last closing price. If ProShares Ultra Bloomberg Natural Gas takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.35 (1.40%) than the resistance at $13.77 (1.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares Ultra Bloomberg Natural Gas ETF A Buy?
BOIL holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -3.476 Sell Candidate Unchanged
Predicted Opening Price for ProShares Ultra Bloomberg Natural Gas of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $13.59 ( 0.382%) | $13.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOIL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.21 | 4.92 % | |
| R2 | 13.97 | 3.19 % | ||
| R1 | 13.83 | 2.12 % | ||
| Current price: | 13.54 | |||
| Support | S1 | 13.36 | -1.35 % | |
| S2 | 13.21 | -2.42 % | ||
| S3 | 12.98 | -4.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.97 | 17.95 % | |
| R2 | 13.87 | 2.44 % | ||
| R1 | 13.77 | 1.70 % | ||
| Current price | 13.54 | |||
| Support | S1 | 13.35 | -1.40% | |
| S2 | 12.86 | -5.02% | ||
| S3 | 12.45 | -8.05% |
FAQ
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