Graniteshares 3x Short Nvidia Daily Etp ETF Forecast

On Wednesday, Graniteshares 3x Short Nvidia Daily Etp ETF price gained an impressive 5.76%
(Updated on Jun 19, 2024)

3SNV.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 5.76%. 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. The Graniteshares 3x Short Nvidia Daily Etp ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.0395 and £0.0925. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Graniteshares 3x Short Nvidia Daily Etp ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £0.0348. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at £ may give a huge drop in the ETF price.

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 9.50%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3SNV.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Graniteshares 3x Short Nvidia Daily Etp to open at £0.0368, and during the day (based on 14 day Average True Range), to move between £0.0276 and £0.0459, which gives a possible trading interval of +/-£0.0092 (+/-25.00%) up or down from last closing price. If Graniteshares 3x Short Nvidia Daily Etp takes out the full calculated possible swing range there will be an estimated 50.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.0375 (2.04%) than the support at £0.0348 (5.44%), 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 Nvidia Daily Etp ETF A Buy?

Graniteshares 3x Short Nvidia Daily Etp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -5.198 Strong Sell Candidate Unchanged

Predicted Opening Price for Graniteshares 3x Short Nvidia Daily Etp of Thursday, June 20, 2024

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