Leverage Shares 3x Long Semiconductors ETF Forecast

Stronger technical forecast for Leverage Shares 3x Long Semiconductors ETF price after Thursday trading.
(Updated on Jun 27, 2024)

3SMH.L Signals & Forecast

The Leverage Shares 3x Long Semiconductors 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 £653.31. On a fall, the ETF will find some support from the long-term average at approximately £519.28. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Leverage Shares 3x Long Semiconductors ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £554.82 and £533.83. 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 Long Semiconductors finds support just below today's level at £554.82. If this is broken, then the next support from accumulated volume will be at £533.83 and £497.71.

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 6.98%

Our recommended stop-loss: £556.21 (-5.72%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (3SMH.L) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Leverage Shares 3x Long Semiconductors Etc to open at £589.96, and during the day (based on 14 day Average True Range), to move between £539.49 and £640.43, which gives a possible trading interval of +/-£50.47 (+/-8.55%) up or down from last closing price. If Leverage Shares 3x Long Semiconductors Etc takes out the full calculated possible swing range there will be an estimated 17.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £618.03 (4.76%) than the support at £554.82 (5.96%), 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 Long Semiconductors 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 Long Semiconductors ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.828 Buy Candidate Upgraded

Predicted Opening Price for Leverage Shares 3x Long Semiconductors Etc of Friday, June 28, 2024

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