Graniteshares 3x Long Safran Da ETF Forecast
A very strong day for Graniteshares 3x Long Safran Da ETF price on Wednesday
(Updated on Jun 26, 2024)
The Graniteshares 3x Long Safran Da ETF price gained 8.83% on the last trading day (Wednesday, 26th Jun 2024), rising from 13.27€ to 14.44€. During the last trading day the ETF fluctuated 0% from a day low at 14.44€ to a day high of 14.44€. The price has fallen in 5 of the last 10 days and is down by -15.09% 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, 288 shares were bought and sold for approximately 4.16€ thousand.
The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 14.47€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -24.65% during the next 3 months and, with a 90% probability hold a price between 8.47€ and 10.91€ 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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3LSA.PA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 8.83%. Further rise is indicated until a new top pivot has been found. Graniteshares 3x Long Safran Da 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 Safran Da 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 14.54€ and 15.79€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Graniteshares 3x Long Safran Da ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 13.61€ and 13.27€. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at 13.27€ may give a huge drop in the ETF price.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. 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 0%.
Our recommended stop-loss: 13.82€ (-4.32%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (3LSA.PA) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Graniteshares 3x Long Safran Da to open at 14.44€, and during the day (based on 14 day Average True Range), to move between 13.74€ and 15.14€, which gives a possible trading interval of +/-0.700€ (+/-4.85%) up or down from last closing price. If Graniteshares 3x Long Safran Da takes out the full calculated possible swing range there will be an estimated 9.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 13.61€ (5.79%) than the resistance at 17.01€ (17.77%), 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 Safran Da ETF A Buy?
Graniteshares 3x Long Safran Da holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Safran Da of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 14.44€ ( 0%) | 14.44€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LSA.PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.44 | - |
| R2 | 14.44 | - |
| R1 | 14.44 | - |
| Price | 14.44 | |
| S1 | 14.44 | - |
| S2 | 14.44 | - |
| S3 | 14.44 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.64 | 22.11% |
| R2 | 17.62 | 21.99% |
| R1 | 17.01 | 17.77% |
| Price | 14.44 | |
| S1 | 13.61 | -5.79% |
| S2 | 13.27 | -8.11% |
| S3 | 0 | - |
FAQ
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