Leverage Shares 3x Boeing Etp ETF Forecast
Strong day for Leverage Shares 3x Boeing Etp ETF price on Wednesday rising 8.36% to £21.87
(Updated on Jun 19, 2024)
The Leverage Shares 3x Boeing Etp ETF price gained 8.36% on the last trading day (Wednesday, 19th Jun 2024), rising from £20.18 to £21.87. During the last trading day the ETF fluctuated 0% from a day low at £21.87 to a day high of £21.87. The price has fallen in 6 of the last 10 days and is down by -3.58% for this period. Volume fell on the last day by -99 thousand shares and in total, 0 shares were bought and sold for approximately £0 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -15.25% during the next 3 months and, with a 90% probability hold a price between £12.32 and £21.80 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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3BA.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 8.36%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares 3x Boeing Etp 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 £21.99 and £22.50. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Boeing Etp ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £20.20 and £19.19. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Boeing Etp finds support just below today's level at £20.20. If this is broken, then the next support from accumulated volume will be at £19.19 and £17.28.
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 9.00%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3BA.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Leverage Shares 3x Boeing Etp to open at £21.87, and during the day (based on 14 day Average True Range), to move between £19.74 and £23.99, which gives a possible trading interval of +/-£2.12 (+/-9.72%) up or down from last closing price. If Leverage Shares 3x Boeing Etp takes out the full calculated possible swing range there will be an estimated 19.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £22.68 (3.72%) than the support at £20.20 (7.62%), 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 Leverage Shares 3x Boeing Etp ETF A Buy?
Leverage Shares 3x Boeing Etp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.123 Sell Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Boeing Etp of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £21.87 ( 0%) | £21.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3BA.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.87 | - |
| R2 | 21.87 | - |
| R1 | 21.87 | - |
| Price | 21.87 | |
| S1 | 21.87 | - |
| S2 | 21.87 | - |
| S3 | 21.87 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.73 | 13.10% |
| R2 | 23.74 | 8.57% |
| R1 | 22.68 | 3.72% |
| Price | 21.87 | |
| S1 | 20.20 | -7.62% |
| S2 | 19.19 | -12.24% |
| S3 | 17.28 | -20.97% |
FAQ
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