Leverage Shares 2x Alibaba Etc ETF Forecast
Red day on Thursday for Leverage Shares 2x Alibaba Etc
(Updated on Jun 27, 2024)
No changes to the price of Leverage Shares 2x Alibaba Etc ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at £56.98 to a day high of £56.98. The price has fallen in 6 of the last 10 days and is down by -5.97% for this period.
The ETF lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £54.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 8.13% during the next 3 months and, with a 90% probability hold a price between £59.16 and £89.88 at the end of this 3-month period.
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2BAB.L Signals & Forecast
There are mixed signals in the ETF today. The Leverage Shares 2x Alibaba Etc ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £57.28 and £63.30. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 0.87%. 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).
Support, Risk & Stop-loss for Leverage Shares 2x Alibaba Etc ETF
Leverage Shares 2x Alibaba Etc finds support from accumulated volume at £55.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved £0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.799%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2BAB.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Leverage Shares 2x Alibaba Etc to open at £56.98, and during the day (based on 14 day Average True Range), to move between £54.97 and £58.98, which gives a possible trading interval of +/-£2.01 (+/-3.52%) up or down from last closing price. If Leverage Shares 2x Alibaba Etc takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £55.67 (2.29%) than the resistance at £58.50 (2.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 2x Alibaba Etc ETF A Buy?
Leverage Shares 2x Alibaba Etc 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: -2.232 Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 2x Alibaba Etc of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| £56.98 ( 0%) | £56.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2BAB.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.98 | - |
| R2 | 56.98 | - |
| R1 | 56.98 | - |
| Price | 56.98 | |
| S1 | 56.98 | - |
| S2 | 56.98 | - |
| S3 | 56.98 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.44 | 11.35% |
| R2 | 60.59 | 6.35% |
| R1 | 58.50 | 2.67% |
| Price | 56.98 | |
| S1 | 55.67 | -2.29% |
| S2 | 54.99 | -3.49% |
| S3 | 50.12 | -12.03% |
FAQ
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