Graniteshares 3x Long Bp Daily Etc 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
Green day on Friday for Graniteshares 3x Long Bp Daily Etc ETF after gaining 0.422%
(Updated on Jun 28, 2024)
The Graniteshares 3x Long Bp Daily Etc ETF price gained 0.422% on the last trading day (Friday, 28th Jun 2024), rising from £1,657.75 to £1,664.75. During the last trading day the ETF fluctuated 0.736% from a day low at £1,664.75 to a day high of £1,677.00. The price has risen in 6 of the last 10 days and is up by 10.41% 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, 242 more shares were traded than the day before. In total, 242 shares were bought and sold for approximately £402.87 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 -30.35% during the next 3 months and, with a 90% probability hold a price between £956.16 and £1,252.27 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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3LBP.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 10.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Graniteshares 3x Long Bp Daily Etc 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 Graniteshares 3x Long Bp Daily Etc 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 £1,748.51. On a fall, the ETF will find some support from the short-term average at £1,640.29. 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.
Support, Risk & Stop-loss for Graniteshares 3x Long Bp Daily Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £1,557.00 and £1,550.50. 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 Bp Daily Etc finds support just below today's level at £1,557.00. If this is broken, then the next support from accumulated volume will be at £1,550.50 and £1,538.00.
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 £12.25 between high and low, or 0.736%. For the last week, the ETF has had daily average volatility of 1.50%.
Our recommended stop-loss: £1,603.15 (-3.70%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (3LBP.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Long Bp Daily Etc to open at £1,668.83, and during the day (based on 14 day Average True Range), to move between £1,605.80 and £1,723.70, which gives a possible trading interval of +/-£58.95 (+/-3.54%) up or down from last closing price. If Graniteshares 3x Long Bp Daily Etc takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,557.00 (6.47%) than the resistance at £1,868.75 (12.25%), 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 Bp Daily Etc ETF A Buy?
Graniteshares 3x Long Bp Daily Etc 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Graniteshares 3x Long Bp Daily Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1,668.83 ( 0.245%) | £1,664.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LBP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,681.08 | 0.98% |
| R2 | 1,676.40 | 0.700% |
| R1 | 1,673.51 | 0.526% |
| Price | 1,664.75 | |
| S1 | 1,664.15 | -0.0358% |
| S2 | 1,661.26 | -0.209% |
| S3 | 1,656.58 | -0.491% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,932.00 | 16.05% |
| R2 | 1,891.00 | 13.59% |
| R1 | 1,868.75 | 12.25% |
| Price | 1,664.75 | |
| S1 | 1,557.00 | -6.47% |
| S2 | 1,550.50 | -6.86% |
| S3 | 1,538.00 | -7.61% |
FAQ
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