Leverage Shares 3x Alphabet Etp Scs ETF Forecast

Weaker technical forecast for Leverage Shares 3x Alphabet Etp Scs as ETF downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)

3GOO.MI Signals & Forecast

The Leverage Shares 3x Alphabet Etp Scs ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 66.25€ and 61.58€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -1.83%. Further fall is indicated until a new bottom pivot has been found. Leverage Shares 3x Alphabet Etp Scs 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 Alphabet Etp Scs ETF

On the downside, the ETF finds support just below today's level from accumulated volume at 64.22€ and 61.00€. 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 Alphabet Etp Scs finds support just below today's level at 64.22€. If this is broken, then the next support from accumulated volume will be at 61.00€ and 60.96€.

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 3.04€ between high and low, or 4.43%. For the last week, the ETF has had daily average volatility of 2.46%.

The Leverage Shares 3x Alphabet Etp Scs ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: 67.59€ (-2.56%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 74 and this increases the risk substantially. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (3GOO.MI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Alphabet Etp Scs to open at 69.91€, and during the day (based on 14 day Average True Range), to move between 67.18€ and 71.54€, which gives a possible trading interval of +/-2.18€ (+/-3.14%) up or down from last closing price. If Leverage Shares 3x Alphabet Etp Scs takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 70.65€ (1.86%) than the support at 64.22€ (7.41%), 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 Alphabet Etp Scs ETF A Buy?

Leverage Shares 3x Alphabet Etp Scs 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.905 Hold/Accumulate Downgraded

Predicted Opening Price for Leverage Shares 3x Alphabet Etp Scs of Monday, July 1, 2024

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