Leverage Shares 3x Bp Etp ETF Forecast
Leverage Shares 3x Bp Etp ETF price ended at £419.25 on Tuesday, after gaining 1.64%.
(Updated on Jun 25, 2024)
The Leverage Shares 3x Bp Etp ETF price gained 1.64% on the last trading day (Tuesday, 25th Jun 2024), rising from £412.50 to £419.25. During the last trading day the ETF fluctuated 3.18% from a day low at £419.25 to a day high of £432.60. The price has fallen in 6 of the last 10 days but is still up by 4.42% 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, 700 more shares were traded than the day before. In total, 800 shares were bought and sold for approximately £335.40 thousand.
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 -24.55% during the next 3 months and, with a 90% probability hold a price between £280.17 and £361.46 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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3BP.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 8.17%. Further rise is indicated until a new top pivot has been found. Leverage Shares 3x Bp 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares 3x Bp Etp 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 £451.24. On a fall, the ETF will find some support from the short-term average at £407.95. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Leverage Shares 3x Bp Etp ETF
Leverage Shares 3x Bp Etp finds support from accumulated volume at £407.48 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 £13.35 between high and low, or 3.18%. For the last week, the ETF has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3BP.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Bp Etp to open at £423.70, and during the day (based on 14 day Average True Range), to move between £402.53 and £435.97, which gives a possible trading interval of +/-£16.72 (+/-3.99%) up or down from last closing price. If Leverage Shares 3x Bp Etp takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £422.60 (0.80%) than the support at £407.48 (2.81%), 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 Bp Etp ETF A Buy?
Leverage Shares 3x Bp Etp 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: -2.155 Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Bp Etp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £423.70 ( 1.06%) | £419.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3BP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 437.05 | 4.25% |
| R2 | 431.95 | 3.03% |
| R1 | 428.80 | 2.28% |
| Price | 419.25 | |
| S1 | 418.60 | -0.155% |
| S2 | 415.45 | -0.91% |
| S3 | 410.35 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 476.88 | 13.75% |
| R2 | 470.73 | 12.28% |
| R1 | 422.60 | 0.799% |
| Price | 419.25 | |
| S1 | 407.48 | -2.81% |
| S2 | 402.98 | -3.88% |
| S3 | 399.85 | -4.63% |
FAQ
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