Graniteshares 3x Long Alibaba Daily Etp ETF Forecast
Graniteshares 3x Long Alibaba Daily Etp ETF price ended at 0.0887€ on Friday, after losing 0.561%.
(Updated on Jun 28, 2024)
The Graniteshares 3x Long Alibaba Daily Etp ETF price fell by -0.561% on the last day (Friday, 28th Jun 2024) from 0.0892€ to 0.0887€. During the last trading day the ETF fluctuated 0.681% from a day low at 0.0881€ to a day high of 0.0887€. The price has fallen in 6 of the last 10 days and is down by -5.64% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -75 thousand shares and in total, 2 thousand shares were bought and sold for approximately 159.66€ .
The ETF lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 0.0864€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 5.86% during the next 3 months and, with a 90% probability hold a price between 0.0915€ and 0.173€ at the end of this 3-month period.
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3LAA.MI Signals & Forecast
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. The Graniteshares 3x Long Alibaba Daily 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 0.0945€ and 0.111€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -44.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Graniteshares 3x Long Alibaba Daily Etp ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 0.0813€ and 0.0806€. 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, Graniteshares 3x Long Alibaba Daily Etp finds support just below today's level at 0.0813€. If this is broken, then the next support from accumulated volume will be at 0.0806€ and 0.0793€.
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 0.0006€ between high and low, or 0.681%. For the last week the ETF has had daily average volatility of 1.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3LAA.MI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Long Alibaba Daily Etp to open at 0.0885€, and during the day (based on 14 day Average True Range), to move between 0.0832€ and 0.0942€, which gives a possible trading interval of +/-0.0055€ (+/-6.24%) up or down from last closing price. If Graniteshares 3x Long Alibaba Daily Etp takes out the full calculated possible swing range there will be an estimated 12.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0813€ (8.34%) than the resistance at 0.104€ (16.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Graniteshares 3x Long Alibaba Daily Etp ETF A Buy?
The Graniteshares 3x Long Alibaba Daily Etp ETF holds several negative signals and despite the positive trend, we believe Graniteshares 3x Long Alibaba Daily Etp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.909 Sell Candidate Unchanged
Predicted Opening Price for Graniteshares 3x Long Alibaba Daily Etp of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 0.0885€ ( 0.225%) | 0.0887€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LAA.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0891 | 0.451% |
| R2 | 0.0889 | 0.193% |
| R1 | 0.0887 | 0.0329% |
| Price | 0.0887 | |
| S1 | 0.0883 | -0.484% |
| S2 | 0.0881 | -0.644% |
| S3 | 0.0879 | -0.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.110 | 24.24% |
| R2 | 0.107 | 20.86% |
| R1 | 0.104 | 16.69% |
| Price | 0.0887 | |
| S1 | 0.0813 | -8.34% |
| S2 | 0.0806 | -9.13% |
| S3 | 0.0793 | -10.60% |
FAQ
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