Graniteshares 3x Long Nvidia Daily Etp 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
High volatility in Graniteshares 3x Long Nvidia Daily Etp ETF price on Tuesday which ended trading at £47.23
(Updated on Jun 25, 2024)
The Graniteshares 3x Long Nvidia Daily Etp ETF price fell by -11.70% on the last day (Tuesday, 25th Jun 2024) from £53.49 to £47.23. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 27.16% from a day low at £37.30 to a day high of £47.43. The price has risen in 6 of the last 10 days and is up by 2.7% over the past 2 weeks. 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 -9 thousand shares and in total, 45 thousand shares were bought and sold for approximately £2.13 million.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £40.07 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -8.70% during the next 3 months and, with a 90% probability hold a price between £36.58 and £324.58 at the end of this 3-month period.
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3LNV.L Signals & Forecast
There are few to no technical positive signals at the moment. The Graniteshares 3x Long Nvidia 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 £58.78 and £171.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -31.54%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Graniteshares 3x Long Nvidia Daily Etp ETF
Graniteshares 3x Long Nvidia Daily Etp finds support from accumulated volume at £45.99 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 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 £10.13 between high and low, or 27.16%. For the last week, the ETF has had daily average volatility of 16.17%.
Graniteshares 3x Long Nvidia Daily Etp is oversold on RSI14 (20). 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 (3LNV.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Graniteshares 3x Long Nvidia Daily Etp to open at £43.99, and during the day (based on 14 day Average True Range), to move between £18.43 and £76.03, which gives a possible trading interval of +/-£28.80 (+/-60.99%) up or down from last closing price. If Graniteshares 3x Long Nvidia Daily Etp takes out the full calculated possible swing range there will be an estimated 121.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £45.99 (2.63%) than the resistance at £53.35 (12.96%), 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 Nvidia Daily Etp ETF A Buy?
Graniteshares 3x Long Nvidia Daily Etp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -5.088 Strong Sell Candidate Unchanged
Predicted Opening Price for Graniteshares 3x Long Nvidia Daily Etp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £43.99 ( 6.87%) | £47.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LNV.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.12 | 14.58% |
| R2 | 50.25 | 6.39% |
| R1 | 47.86 | 1.33% |
| Price | 47.23 | |
| S1 | 40.12 | -15.06% |
| S2 | 37.73 | -20.12% |
| S3 | 33.86 | -28.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.88 | 20.42% |
| R2 | 53.49 | 13.25% |
| R1 | 53.35 | 12.96% |
| Price | 47.23 | |
| S1 | 45.99 | -2.63% |
| S2 | 45.24 | -4.22% |
| S3 | 0 | - |
FAQ
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