Leverage Shares 3x Palantir Etc ETF Forecast
On Friday, Leverage Shares 3x Palantir Etc ETF price gained an impressive 11.16%
(Updated on Jun 28, 2024)
The Leverage Shares 3x Palantir Etc ETF price gained 11.16% on the last trading day (Friday, 28th Jun 2024), rising from £3,127.55 to £3,476.50. During the last trading day the ETF fluctuated 9.02% from a day low at £3,297.20 to a day high of £3,594.50. The price has risen in 5 of the last 10 days and is up by 25.14% 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, 508 more shares were traded than the day before. In total, 508 shares were bought and sold for approximately £1.77 million.
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 -5.68% during the next 3 months and, with a 90% probability hold a price between £1,847.84 and £3,639.31 at the end of this 3-month period.
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3PLT.L Signals & Forecast
The Leverage Shares 3x Palantir 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 £3,247.19 and £2,621.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 18.69%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Leverage Shares 3x Palantir Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £3,149.40 and £3,058.55. 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 Palantir Etc finds support just below today's level at £3,149.40. If this is broken, then the next support from accumulated volume will be at £3,058.55 and £3,053.05.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved £297.30 between high and low, or 9.02%. For the last week, the ETF has had daily average volatility of 5.46%.
Our recommended stop-loss: £3,347.17 (-3.72%) (This ETF has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (3PLT.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Palantir Etc to open at £3,456.07, and during the day (based on 14 day Average True Range), to move between £3,113.23 and £3,839.77, which gives a possible trading interval of +/-£363.27 (+/-10.45%) up or down from last closing price. If Leverage Shares 3x Palantir Etc takes out the full calculated possible swing range there will be an estimated 20.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,483.65 (0.21%) than the support at £3,149.40 (9.41%), 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 Palantir Etc ETF A Buy?
Leverage Shares 3x Palantir Etc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Leverage Shares 3x Palantir Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £3,456.07 ( 0.588%) | £3,476.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3PLT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,753.37 | 7.96% |
| R2 | 3,639.80 | 4.70% |
| R1 | 3,569.64 | 2.68% |
| Price | 3,476.50 | |
| S1 | 3,342.50 | -3.85% |
| S2 | 3,272.34 | -5.87% |
| S3 | 3,158.77 | -9.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 3,883.55 | 11.71% |
| R1 | 3,483.65 | 0.206% |
| Price | 3,476.50 | |
| S1 | 3,149.40 | -9.41% |
| S2 | 3,058.55 | -12.02% |
| S3 | 3,053.05 | -12.18% |
FAQ
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