Leverage Shares 3x Boeing Etp ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
On Friday, Leverage Shares 3x Boeing Etp ETF price gained an impressive 12.29%
(Updated on Jun 28, 2024)
The Leverage Shares 3x Boeing Etp ETF price gained 12.29% on the last trading day (Friday, 28th Jun 2024), rising from £0.241 to £0.271. During the last trading day the ETF fluctuated 0.315% from a day low at £0.270 to a day high of £0.271. The price has risen in 5 of the last 10 days and is up by 7.1% 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, 100 more shares were traded than the day before. In total, 100 shares were bought and sold for approximately £27.09 .
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 -6.24% during the next 3 months and, with a 90% probability hold a price between £0.176 and £0.280 at the end of this 3-month period.
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3BAE.L Signals & Forecast
The Leverage Shares 3x Boeing Etp ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £0.242 and £0.262. A breakdown below any of these levels will issue sell signals. Leverage Shares 3x Boeing Etp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -12.00%. 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).
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 £0.246 and £0.235. 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 £0.246. If this is broken, then the next support from accumulated volume will be at £0.235 and £0.233.
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 £0.0008 between high and low, or 0.315%. For the last week, the ETF has had daily average volatility of 2.91%.
Our recommended stop-loss: £0.254 (-6.24%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (3BAE.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Boeing Etp to open at £0.271, and during the day (based on 14 day Average True Range), to move between £0.253 and £0.289, which gives a possible trading interval of +/-£0.0179 (+/-6.62%) 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 13.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.277 (2.42%) than the support at £0.246 (9.06%), 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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Leverage Shares 3x Boeing Etp of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £0.271 ( 0.105%) | £0.271 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3BAE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.271 | 0.209% |
| R2 | 0.271 | 0.0893% |
| R1 | 0.271 | 0.0153% |
| Price | 0.271 | |
| S1 | 0.270 | -0.224% |
| S2 | 0.270 | -0.299% |
| S3 | 0.270 | -0.418% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.303 | 12.00% |
| R2 | 0.282 | 4.28% |
| R1 | 0.277 | 2.42% |
| Price | 0.271 | |
| S1 | 0.246 | -9.06% |
| S2 | 0.235 | -13.27% |
| S3 | 0.233 | -14.09% |
FAQ
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