Leverage Shares 3x Short Alibaba (baba) ETF Forecast
Leverage Shares 3x Short Alibaba (baba) ETF price up more than 6.71% on Tuesday
(Updated on Jun 25, 2024)
The Leverage Shares 3x Short Alibaba (baba) ETF price gained 6.71% on the last trading day (Tuesday, 25th Jun 2024), rising from £1.21 to £1.29. During the last trading day the ETF fluctuated 2.62% from a day low at £1.26 to a day high of £1.29. The price has risen in 6 of the last 10 days and is up by 11.06% 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, 8 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately £16.01 thousand.
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 £1.39 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 -37.68% during the next 3 months and, with a 90% probability hold a price between £0.292 and £0.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3SBE.L Signals & Forecast
Mostly positive signals in the chart today. The Leverage Shares 3x Short Alibaba (baba) 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 £1.25 and £1.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 64.68%. 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). Leverage Shares 3x Short Alibaba (baba) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Short Alibaba (baba) ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £1.19 and £1.17. 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 Short Alibaba (baba) finds support just below today's level at £1.19. If this is broken, then the next support from accumulated volume will be at £1.17 and £1.14.
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 £0.0329 between high and low, or 2.62%. For the last week, the ETF has had daily average volatility of 2.60%.
Our recommended stop-loss: £1.24 (-3.72%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (3SBE.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Short Alibaba (baba) Etp Securities to open at £1.28, and during the day (based on 14 day Average True Range), to move between £1.23 and £1.36, which gives a possible trading interval of +/-£0.0655 (+/-5.08%) up or down from last closing price. If Leverage Shares 3x Short Alibaba (baba) Etp Securities takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1.19 (7.81%) than the resistance at £1.49 (15.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 3x Short Alibaba (baba) Etp Securities 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 3.375 Buy Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Short Alibaba (baba) Etp Securities of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £1.28 ( 0.85%) | £1.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3SBE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.31 | 1.70% |
| R2 | 1.30 | 0.726% |
| R1 | 1.29 | 0.124% |
| Price | 1.29 | |
| S1 | 1.27 | -1.82% |
| S2 | 1.26 | -2.42% |
| S3 | 1.25 | -3.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.59 | 23.18% |
| R2 | 1.53 | 18.53% |
| R1 | 1.49 | 15.43% |
| Price | 1.29 | |
| S1 | 1.19 | -7.81% |
| S2 | 1.17 | -9.43% |
| S3 | 1.14 | -11.51% |
FAQ
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