Leverage Shares 3x Boeing Etp ETF Forecast

Volatile ride for Leverage Shares 3x Boeing Etp ETF price on Tuesday moving between £0.232 and £0.259
(Updated on Jun 25, 2024)

3BAE.L Signals & Forecast

There are few to no technical positive signals at the moment. 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 £0.239 and £0.263. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -24.68%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Leverage Shares 3x Boeing Etp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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

Leverage Shares 3x Boeing Etp finds support from accumulated volume at £0.224 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved £0.0275 between high and low, or 11.84%. For the last week, the ETF has had daily average volatility of 7.23%.

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

Trading Expectations (3BAE.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Boeing Etp to open at £0.241, and during the day (based on 14 day Average True Range), to move between £0.213 and £0.251, which gives a possible trading interval of +/-£0.0190 (+/-8.21%) 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 16.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.233 (0.37%) than the support at £0.224 (3.49%), 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.

Current score: -5.078 Strong Sell Candidate Unchanged

Predicted Opening Price for Leverage Shares 3x Boeing Etp of Wednesday, June 26, 2024

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