Graniteshares 3x Long Moderna D 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 Moderna D
(Updated on Jun 28, 2024)
The Graniteshares 3x Long Moderna D ETF price gained 4.75% on the last trading day (Friday, 28th Jun 2024), rising from 3.69€ to 3.86€. During the last trading day the ETF fluctuated 0% from a day low at 3.86€ to a day high of 3.86€. The price has fallen in 6 of the last 10 days and is down by -45.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 more shares were traded than the day before. In total, 224 shares were bought and sold for approximately 865.20€ .
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 3.76€ 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 51.13% during the next 3 months and, with a 90% probability hold a price between 5.68€ and 19.72€ at the end of this 3-month period.
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3LMO.PA Signals & Forecast
Graniteshares 3x Long Moderna D 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 5.02€ and 6.93€. 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 -66.43%. 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).
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 3.55€ and 3.37€. 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 3.55€. If this is broken, then the next support from accumulated volume will be at 3.37€ and 3.15€.
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€ between high and low, or 0%. For the last week, the ETF has had daily average volatility of 5.95%.
Graniteshares 3x Long Moderna D is oversold on RSI14 (17). 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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Long Moderna D to open at 3.86€, and during the day (based on 14 day Average True Range), to move between 3.25€ and 4.47€, which gives a possible trading interval of +/-0.609€ (+/-15.76%) 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 31.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 4.12€ (6.67%) than the support at 3.55€ (8.09%), 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: -3.287 Sell Candidate Unchanged
Predicted Opening Price for Graniteshares 3x Long Moderna D of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 3.86€ ( 0.00000000%) | 3.86€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LMO.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.86 | 0.00000000% |
| R2 | 3.86 | 0.00000000% |
| R1 | 3.86 | 0.00000000% |
| Price | 3.86 | |
| S1 | 3.86 | 0.00000000% |
| S2 | 3.86 | 0.00000000% |
| S3 | 3.86 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.69 | 21.42% |
| R2 | 4.50 | 16.50% |
| R1 | 4.12 | 6.67% |
| Price | 3.86 | |
| S1 | 3.55 | -8.09% |
| S2 | 3.37 | -12.75% |
| S3 | 3.15 | -18.45% |
FAQ
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