Leverage Shares 3x Netflix Etc ETF Forecast

Evaluation of Leverage Shares 3x Netflix Etc ETF downgraded after the last trading session.
(Updated on Jun 24, 2024)

3NFE.L Signals & Forecast

The Leverage Shares 3x Netflix Etc ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately £75.50. On a fall, the ETF will find some support from the long-term average at approximately £61.37. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 -8.89%. 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). Leverage Shares 3x Netflix Etc 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 Leverage Shares 3x Netflix Etc ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £66.10 and £62.81. 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 Netflix Etc finds support just below today's level at £66.10. If this is broken, then the next support from accumulated volume will be at £62.81 and £61.90.

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 £7.10 between high and low, or 9.82%. For the last week, the ETF has had daily average volatility of 3.25%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3NFE.L) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Leverage Shares 3x Netflix Etc to open at £74.64, and during the day (based on 14 day Average True Range), to move between £68.62 and £75.93, which gives a possible trading interval of +/-£3.65 (+/-5.05%) up or down from last closing price. If Leverage Shares 3x Netflix Etc takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £73.42 (1.58%) than the support at £66.10 (8.54%), 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 Netflix Etc ETF A Buy?

The Leverage Shares 3x Netflix Etc ETF holds several negative signals and despite the positive trend, we believe Leverage Shares 3x Netflix Etc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.022 Sell Candidate Downgraded

Predicted Opening Price for Leverage Shares 3x Netflix Etc of Tuesday, June 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.