Graniteshares 3x Short Alibaba Daily Etp ETF Forecast
Graniteshares 3x Short Alibaba Daily Etp ETF price ended at 0.272€ on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of Graniteshares 3x Short Alibaba Daily Etp ETF on the last trading day (Friday, 28th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at 0.272€ to a day high of 0.272€. The price has risen in 4 of the last 10 days and is up by 11.55% over the past 2 weeks.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 23.35% during the next 3 months and, with a 90% probability hold a price between 0.323€ and 0.357€ at the end of this 3-month period.
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3SAA.MI Signals & Forecast
The Graniteshares 3x Short Alibaba Daily Etp 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 0.269€ and 0.248€. 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). 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 Tuesday, June 25, 2024, and so far it has fallen -0.693%. Further fall is indicated until a new bottom pivot has been found. 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 Short Alibaba Daily Etp ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 0.249€ and 0.234€. 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 Short Alibaba Daily Etp finds support just below today's level at 0.249€. If this is broken, then the next support from accumulated volume will be at 0.234€ and 0.232€.
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 0%
Our recommended stop-loss: 0.262€ (-3.74%) (This ETF has low daily movements and this gives low risk. The RSI14 is 74 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (3SAA.MI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Short Alibaba Daily Etp to open at 0.272€, and during the day (based on 14 day Average True Range), to move between 0.264€ and 0.281€, which gives a possible trading interval of +/-0.0086€ (+/-3.14%) up or down from last closing price. If Graniteshares 3x Short Alibaba Daily Etp takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.274€ (0.70%) than the support at 0.249€ (8.44%), 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 Short Alibaba Daily Etp ETF A Buy?
Graniteshares 3x Short Alibaba Daily Etp 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 Graniteshares 3x Short Alibaba Daily Etp of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
0.272€ ( 0%) | 0.272€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3SAA.MI
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.272 | - |
R2 | 0.272 | - |
R1 | 0.272 | - |
Price | 0.272 | |
S1 | 0.272 | - |
S2 | 0.272 | - |
S3 | 0.272 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.274 | 0.698% |
Price | 0.272 | |
S1 | 0.249 | -8.44% |
S2 | 0.234 | -14.02% |
S3 | 0.232 | -14.83% |
FAQ
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