Graniteshares 3x Long Diageo Daily Etc ETF Forecast
Green day on Tuesday for Graniteshares 3x Long Diageo Daily Etc
(Updated on Jun 25, 2024)
The Graniteshares 3x Long Diageo Daily Etc ETF price gained 0.268% on the last trading day (Tuesday, 25th Jun 2024), rising from £1,120.50 to £1,123.50. During the last trading day the ETF fluctuated 6.47% from a day low at £1,082.50 to a day high of £1,152.50. The price has fallen in 6 of the last 10 days and is down by -8.42% for this period. Volume fell on the last day by -28 shares and in total, 10 shares were bought and sold for approximately £11.24 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 middle of a 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 -31.57% during the next 3 months and, with a 90% probability hold a price between £721.62 and £893.64 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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3LDO.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 2.37%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Graniteshares 3x Long Diageo 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 £1,322.74. On a fall, the ETF will find some support from the short-term average at £1,120.43. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Graniteshares 3x Long Diageo Daily Etc ETF
Graniteshares 3x Long Diageo Daily Etc finds support from accumulated volume at £1,120.50 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 periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved £70.00 between high and low, or 6.47%. For the last week the ETF has had daily average volatility of 3.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3LDO.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Graniteshares 3x Long Diageo Daily Etc to open at £1,119.50, and during the day (based on 14 day Average True Range), to move between £1,079.96 and £1,167.04, which gives a possible trading interval of +/-£43.54 (+/-3.88%) up or down from last closing price. If Graniteshares 3x Long Diageo Daily Etc takes out the full calculated possible swing range there will be an estimated 7.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,120.50 (0.27%) than the resistance at £1,127.00 (0.31%), 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 Diageo Daily Etc ETF A Buy?
Graniteshares 3x Long Diageo Daily Etc 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: -1.670 Sell Candidate Unchanged
Predicted Opening Price for Graniteshares 3x Long Diageo Daily Etc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £1,119.50 ( 0.356%) | £1,123.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LDO.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,189.50 | 5.87% |
| R2 | 1,162.76 | 3.49% |
| R1 | 1,146.24 | 2.02% |
| Price | 1,123.50 | |
| S1 | 1,092.76 | -2.74% |
| S2 | 1,076.24 | -4.21% |
| S3 | 1,049.50 | -6.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,352.00 | 20.34% |
| R2 | 1,193.00 | 6.19% |
| R1 | 1,127.00 | 0.312% |
| Price | 1,123.50 | |
| S1 | 1,120.50 | -0.267% |
| S2 | 1,115.00 | -0.757% |
| S3 | 1,097.50 | -2.31% |
FAQ
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