Graniteshares 3x Long Safran Da ETF Forecast
Graniteshares 3x Long Safran Da ETF price fell more than -6.62% Friday closing at 13.49€
(Updated on Jun 28, 2024)
The Graniteshares 3x Long Safran Da ETF price fell by -6.62% on the last day (Friday, 28th Jun 2024) from 14.44€ to 13.49€. During the last trading day the ETF fluctuated 0% from a day low at 13.49€ to a day high of 13.49€. The price has been going up and down for this period, and there has been a -0.88% loss for the last 2 weeks. Volume has increased on the last day by 289 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 289 shares were bought and sold for approximately 3.90€ thousand.
The ETF lies in the middle of a very 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 -25.14% during the next 3 months and, with a 90% probability hold a price between 8.19€ and 10.72€ 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
There are few to no technical positive signals at the moment. 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 14.32€ and 15.60€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -6.62%. 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 Safran Da 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 Safran Da ETF
Graniteshares 3x Long Safran Da finds support from accumulated volume at 13.27€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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: 12.75€ (-5.46%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (3LSA.PA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Long Safran Da to open at 13.49€, and during the day (based on 14 day Average True Range), to move between 12.82€ and 14.16€, which gives a possible trading interval of +/-0.672€ (+/-4.98%) 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 9.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 13.61€ (0.89%) than the support at 13.27€ (1.60%), 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 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 Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 13.49€ ( 0%) | 13.49€ |
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 | 13.49 | - |
| R2 | 13.49 | - |
| R1 | 13.49 | - |
| Price | 13.49 | |
| S1 | 13.49 | - |
| S2 | 13.49 | - |
| S3 | 13.49 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.00 | 11.21% |
| R2 | 14.44 | 7.09% |
| R1 | 13.61 | 0.89% |
| Price | 13.49 | |
| S1 | 13.27 | -1.60% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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