Leverage Shares 3x Long India Etp ETF Forecast
Leverage Shares 3x Long India Etp ETF upgraded to Strong Buy Candidate.
(Updated on Jun 25, 2024)
The Leverage Shares 3x Long India Etp ETF price gained 1.85% on the last trading day (Tuesday, 25th Jun 2024), rising from £2,881.25 to £2,934.55. During the last trading day the ETF fluctuated 1.95% from a day low at £2,932.90 to a day high of £2,990.00. The price has risen in 6 of the last 10 days and is up by 5.29% over the past 2 weeks. Volume fell on the last day by -92 shares and in total, 339 shares were bought and sold for approximately £994.81 thousand. 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 upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £3,010.85 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 11.44% during the next 3 months and, with a 90% probability hold a price between £2,708.50 and £3,355.24 at the end of this 3-month period.
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3IND.L Signals & Forecast
The Leverage Shares 3x Long India Etp 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 £2,892.80 and £2,729.94. 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 Tuesday, June 18, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. 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 also not.
Support, Risk & Stop-loss for Leverage Shares 3x Long India Etp ETF
Leverage Shares 3x Long India Etp finds support from accumulated volume at £2,911.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved £57.10 between high and low, or 1.95%. For the last week the ETF has had daily average volatility of 5.54%.
Our recommended stop-loss: £2,824.82 (-3.74%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (3IND.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Long India Etp Securities to open at £2,952.48, and during the day (based on 14 day Average True Range), to move between £2,775.16 and £3,093.94, which gives a possible trading interval of +/-£159.39 (+/-5.43%) up or down from last closing price. If Leverage Shares 3x Long India Etp Securities takes out the full calculated possible swing range there will be an estimated 10.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2,911.55 (0.78%) than the resistance at £2,989.90 (1.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 3x Long India Etp Securities ETF A Buy?
Leverage Shares 3x Long India Etp holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.153 Strong Buy Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Long India Etp Securities of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £2,952.48 ( 0.611%) | £2,934.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3IND.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,009.58 | 2.56% |
| R2 | 2,987.77 | 1.81% |
| R1 | 2,974.30 | 1.35% |
| Price | 2,934.55 | |
| S1 | 2,930.67 | -0.132% |
| S2 | 2,917.20 | -0.591% |
| S3 | 2,895.38 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 2,989.90 | 1.89% |
| Price | 2,934.55 | |
| S1 | 2,911.55 | -0.784% |
| S2 | 2,849.75 | -2.89% |
| S3 | 2,362.40 | -19.50% |
FAQ
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