Graniteshares 3x Short Moderna ETF Forecast

Strong day for Graniteshares 3x Short Moderna ETF price on Friday rising 5.10% to 48.01€
(Updated on Jun 28, 2024)

3SMO.PA Signals & Forecast

Mostly positive signals in the chart today. The Graniteshares 3x Short Moderna 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 23.15€ and 4.66€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 225,275.59%. 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). Graniteshares 3x Short Moderna 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 Graniteshares 3x Short Moderna ETF

Graniteshares 3x Short Moderna finds support from accumulated volume at 45.68€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 1.13€ between high and low, or 2.41%. For the last week, the ETF has had daily average volatility of 0.482%.

The Graniteshares 3x Short Moderna ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: 46.56€ (-3.02%) (This ETF has very high daily movements and this gives very high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 50 days ago.)

Trading Expectations (3SMO.PA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Short Moderna to open at 47.63€, and during the day (based on 14 day Average True Range), to move between 45.07€ and 50.94€, which gives a possible trading interval of +/-2.94€ (+/-6.12%) up or down from last closing price. If Graniteshares 3x Short Moderna takes out the full calculated possible swing range there will be an estimated 12.24% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 45.68€, some 2.33€ (4.85%) from the current price of 48.01€, our system finds the risk reward attractive.

Is Graniteshares 3x Short Moderna 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 Graniteshares 3x Short Moderna 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: 4.806 Buy Candidate Upgraded

Predicted Opening Price for Graniteshares 3x Short Moderna of Monday, July 1, 2024

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