Leverage Shares 2x Microsoft Etc A ETF Forecast

Leverage Shares 2x Microsoft Etc A ETF price ended at £2,739.00 on Wednesday, after gaining 1.95%.
(Updated on Jun 26, 2024)

2MSF.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 24.18%. 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 Leverage Shares 2x Microsoft Etc A 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 £9,084.31. On a fall, the ETF will find some support from the short-term average at £2,675.43. 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 Leverage Shares 2x Microsoft Etc A ETF

Leverage Shares 2x Microsoft Etc A finds support from accumulated volume at £2,645.00 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 £192.00 between high and low, or 7.54%. For the last week, the ETF has had daily average volatility of 2.72%.

The Leverage Shares 2x Microsoft Etc A ETF is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (2MSF.L) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Leverage Shares 2x Microsoft Etc A to open at £2,675.00, and during the day (based on 14 day Average True Range), to move between £2,305.44 and £3,172.56, which gives a possible trading interval of +/-£433.56 (+/-15.83%) up or down from last closing price. If Leverage Shares 2x Microsoft Etc A takes out the full calculated possible swing range there will be an estimated 31.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £2,645.00, some £94.00 (3.43%) from the current price of £2,739.00, our system finds the risk reward attractive.

Is Leverage Shares 2x Microsoft Etc A ETF A Buy?

Leverage Shares 2x Microsoft Etc A 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: -2.335 Sell Candidate Unchanged

Predicted Opening Price for Leverage Shares 2x Microsoft Etc A of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.