Graniteshares 3x Long Moderna D ETF Forecast

Volatile ride for Graniteshares 3x Long Moderna D ETF price on Wednesday moving between 5.04€ and 6.00€
(Updated on Jun 26, 2024)

3LMO.PA Signals & Forecast

There are few to no technical positive signals at the moment. The Graniteshares 3x Long Moderna D 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 5.57€ and 6.98€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -56.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Graniteshares 3x Long Moderna D 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 Graniteshares 3x Long Moderna D ETF

On the downside, the ETF finds support just below today's level from accumulated volume at 4.69€ and 4.50€. 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 Moderna D finds support just below today's level at 4.69€. If this is broken, then the next support from accumulated volume will be at 4.50€ and 4.12€.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved 0.96€ between high and low, or 19.00%. For the last week, the ETF has had daily average volatility of 4.29%.

Graniteshares 3x Long Moderna D is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3LMO.PA) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Graniteshares 3x Long Moderna D to open at 5.36€, and during the day (based on 14 day Average True Range), to move between 4.45€ and 5.63€, which gives a possible trading interval of +/-0.587€ (+/-11.65%) up or down from last closing price. If Graniteshares 3x Long Moderna D takes out the full calculated possible swing range there will be an estimated 23.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 5.15€ (2.14%) than the support at 4.69€ (6.98%), 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 Graniteshares 3x Long Moderna D ETF A Buy?

The Graniteshares 3x Long Moderna D ETF holds several negative signals and despite the positive trend, we believe Graniteshares 3x Long Moderna D will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -3.318 Sell Candidate Unchanged

Predicted Opening Price for Graniteshares 3x Long Moderna D of Thursday, June 27, 2024

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