Graniteshares 3x Long Vodafone Daily ETF Forecast
Graniteshares 3x Long Vodafone Daily ETF upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
No changes to the price of Graniteshares 3x Long Vodafone Daily ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at £2,798.00 to a day high of £2,798.00. The price has risen in 6 of the last 10 days and is up by 3.04% over the past 2 weeks.
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 £2,722.07 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 26.12% during the next 3 months and, with a 90% probability hold a price between £3,433.13 and £4,731.62 at the end of this 3-month period.
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3LVO.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Graniteshares 3x Long Vodafone Daily ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £2,978.71 and £2,960.97. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Graniteshares 3x Long Vodafone Daily ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £2,537.00 and £2,351.00. 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 Vodafone Daily finds support just below today's level at £2,537.00. If this is broken, then the next support from accumulated volume will be at £2,351.00 and £2,328.75.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF 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 2.94%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3LVO.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Graniteshares 3x Long Vodafone Daily Exchange Traded Commodity to open at £2,798.00, and during the day (based on 14 day Average True Range), to move between £2,679.28 and £2,916.72, which gives a possible trading interval of +/-£118.72 (+/-4.24%) up or down from last closing price. If Graniteshares 3x Long Vodafone Daily Exchange Traded Commodity takes out the full calculated possible swing range there will be an estimated 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £2,912.50 (4.09%) than the support at £2,537.00 (9.33%), 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 Vodafone Daily Exchange Traded Commodity ETF A Buy?
The Graniteshares 3x Long Vodafone Daily ETF holds several negative signals and despite the positive trend, we believe Graniteshares 3x Long Vodafone Daily will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.068 Sell Candidate Upgraded
Predicted Opening Price for Graniteshares 3x Long Vodafone Daily Exchange Traded Commodity of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
£2,798.00 ( 0%) | £2,798.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LVO.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2,798.00 | - |
R2 | 2,798.00 | - |
R1 | 2,798.00 | - |
Price | 2,798.00 | |
S1 | 2,798.00 | - |
S2 | 2,798.00 | - |
S3 | 2,798.00 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3,091.50 | 10.49% |
R2 | 3,030.50 | 8.31% |
R1 | 2,912.50 | 4.09% |
Price | 2,798.00 | |
S1 | 2,537.00 | -9.33% |
S2 | 2,351.00 | -15.98% |
S3 | 2,328.75 | -16.77% |
FAQ
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