PROSHARES ULTRA SMALLCAP600 PROSHARES Stock Forecast
PROSHARES ULTRA SMALLCAP600 PROSHARES stock downgraded to Hold/Accumulate
(Updated on Apr 25, 2024)
The PROSHARES ULTRA SMALLCAP600 PROSHARES stock price gained 1.63% on the last trading day (Thursday, 25th Apr 2024), rising from £184.00 to £187.00. During the last trading day the stock fluctuated 2.58% from a day low at £182.30 to a day high of £187.00. The price has risen in 5 of the last 10 days and is up by 5.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately £7.16 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £183.65, a level that may pose a second chance to hit a runner. According to fan-theory £195.31 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SAA.L Signals & Forecast
The PROSHARES ULTRA SMALLCAP600 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 £183.64 and £177.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 9.36%. 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.
A buy signal from a double bottom formation was found on Monday, April 08, 2024 with a target of £177.67. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for PROSHARES ULTRA SMALLCAP600 PROSHARES stock
PROSHARES ULTRA SMALLCAP600 PROSHARES finds support from accumulated volume at £183.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £4.70 (2.58%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.
The PROSHARES ULTRA SMALLCAP600 PROSHARES stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £179.39 (-4.07%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SAA.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 to open at £185.43, and during the day (based on 14 day Average True Range), to move between £182.81 and £191.19, which gives a possible trading interval of +/-£4.19 (+/-2.24%) up or down from last closing price. If PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £183.50, some £3.50 (1.87%) from the current price of £187.00, our system finds the risk reward attractive.
Is PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 stock A Buy?
PROSHARES ULTRA SMALLCAP600 PROSHARES holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £185.43 ( 0.84%) | £187.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAA.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 190.13 | 1.68 % | |
| R2 | 188.34 | 0.715 % | ||
| R1 | 187.23 | 0.122 % | ||
| Current price: | 187.00 | |||
| Support | S1 | 183.64 | -1.80 % | |
| S2 | 182.53 | -2.39 % | ||
| S3 | 180.73 | -3.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 187.00 | |||
| Support | S1 | 183.50 | -1.87% | |
| S2 | 179.00 | -4.28% | ||
| S3 | 173.00 | -7.49% |
SAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 24, 2024 | £1.60 | 0.86% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £1.50 | 0.86% |
| 3 | Sep 24, 2019 | Oct 24, 2019 | Nov 08, 2019 | £2.45 | 1.42% |
| 4 | Mar 27, 2019 | Jun 06, 2019 | Jul 05, 2019 | £8.51 | 2.45% |
| 5 | Mar 27, 2019 | Jun 05, 2019 | Jul 05, 2019 | £8.51 | 2.45% |
FAQ
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