Leverage Shares 3x Microsoft Etc ETF Forecast
Leverage Shares 3x Microsoft Etc ETF price ended at £6,896.88 on Tuesday, after gaining 0.81%.
(Updated on Jun 25, 2024)
The Leverage Shares 3x Microsoft Etc ETF price gained 0.81% on the last trading day (Tuesday, 25th Jun 2024), rising from £6,841.50 to £6,896.88. During the last trading day the ETF fluctuated 7.97% from a day low at £6,472.00 to a day high of £6,987.75. The price has risen in 8 of the last 10 days and is up by 21.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 94 more shares were traded than the day before. In total, 975 shares were bought and sold for approximately £6.72 million.
The ETF lies in the upper part of a very wide and weak rising 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 £6,969.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 8.55% during the next 3 months and, with a 90% probability hold a price between £5,607.63 and £7,565.67 at the end of this 3-month period.
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3MSF.L Signals & Forecast
The Leverage Shares 3x Microsoft Etc ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £6,758.50 and £5,897.63. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -0.636%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares 3x Microsoft Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £5,674.13 and £5,463.00. 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, Leverage Shares 3x Microsoft Etc finds support just below today's level at £5,674.13. If this is broken, then the next support from accumulated volume will be at £5,463.00 and £5,225.00.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved £515.75 between high and low, or 7.97%. For the last week, the ETF has had daily average volatility of 5.03%.
Our recommended stop-loss: £6,643.83 (-3.67%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (3MSF.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Microsoft Etc to open at £6,785.54, and during the day (based on 14 day Average True Range), to move between £6,574.79 and £7,218.96, which gives a possible trading interval of +/-£322.08 (+/-4.67%) up or down from last closing price. If Leverage Shares 3x Microsoft Etc takes out the full calculated possible swing range there will be an estimated 9.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £6,941.00 (0.64%) than the support at £5,674.13 (17.73%), 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 Leverage Shares 3x Microsoft Etc ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Leverage Shares 3x Microsoft Etc ETF to perform well in the short-term.
Current score: 4.260 Buy Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Microsoft Etc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £6,785.54 ( 1.61%) | £6,896.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3MSF.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7,301.29 | 5.86% |
| R2 | 7,104.28 | 3.01% |
| R1 | 6,982.56 | 1.24% |
| Price | 6,896.88 | |
| S1 | 6,588.53 | -4.47% |
| S2 | 6,466.81 | -6.24% |
| S3 | 6,269.79 | -9.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 6,941.00 | 0.640% |
| Price | 6,896.88 | |
| S1 | 5,674.13 | -17.73% |
| S2 | 5,463.00 | -20.79% |
| S3 | 5,225.00 | -24.24% |
FAQ
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