Graniteshares 3x Long Amazon 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
Graniteshares 3x Long Amazon Daily Etp ETF price ended at £62.97 on Tuesday, after gaining 0.287%.
(Updated on Jun 25, 2024)
The Graniteshares 3x Long Amazon Daily Etp ETF price gained 0.287% on the last trading day (Tuesday, 25th Jun 2024), rising from £62.79 to £62.97. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 7.35% from a day low at £58.78 to a day high of £63.10. The price has risen in 6 of the last 10 days and is up by 2.93% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 29 shares were bought and sold for approximately £1.83 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 £65.97 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 -3.14% during the next 3 months and, with a 90% probability hold a price between £46.77 and £63.89 at the end of this 3-month period.
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3LZN.L Signals & Forecast
The Graniteshares 3x Long Amazon Daily Etp ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £60.00 and £60.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 10.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Graniteshares 3x Long Amazon Daily Etp ETF
Graniteshares 3x Long Amazon Daily Etp finds support from accumulated volume at £62.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved £4.32 between high and low, or 7.35%. For the last week the ETF has had daily average volatility of 5.40%.
Our recommended stop-loss: £61.02 (-3.10%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (3LZN.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Graniteshares 3x Long Amazon Daily Etp to open at £61.62, and during the day (based on 14 day Average True Range), to move between £59.79 and £66.15, which gives a possible trading interval of +/-£3.18 (+/-5.05%) up or down from last closing price. If Graniteshares 3x Long Amazon Daily Etp takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £62.79 (0.29%) than the resistance at £63.67 (1.11%), 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 Amazon Daily Etp ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 2.373 Buy Candidate Unchanged
Predicted Opening Price for Graniteshares 3x Long Amazon Daily Etp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £61.62 ( 2.15%) | £62.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3LZN.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.94 | 4.71% |
| R2 | 64.29 | 2.09% |
| R1 | 63.27 | 0.472% |
| Price | 62.97 | |
| S1 | 59.97 | -4.77% |
| S2 | 58.95 | -6.39% |
| S3 | 57.30 | -9.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 66.04 | 4.88% |
| R2 | 65.35 | 3.78% |
| R1 | 63.67 | 1.11% |
| Price | 62.97 | |
| S1 | 62.79 | -0.286% |
| S2 | 58.88 | -6.50% |
| S3 | 57.96 | -7.96% |
FAQ
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