Graniteshares 3x Short Nvidia Daily Etp ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Graniteshares 3x Short Nvidia Daily Etp ETF price fell more than -5.52% Friday closing at £0.0385
(Updated on Jun 28, 2024)
The Graniteshares 3x Short Nvidia Daily Etp ETF price fell by -5.52% on the last day (Friday, 28th Jun 2024) from £0.0408 to £0.0385. During the last trading day the ETF fluctuated 9.46% from a day low at £0.0370 to a day high of £0.0405. The price has fallen in 5 of the last 10 days but is still up by 2.67% over the past 2 weeks. Volume has increased on the last day by 13 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 million shares were bought and sold for approximately £515.05 thousand.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -68.94% during the next 3 months and, with a 90% probability hold a price between £0.0027 and £0.0262 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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3SNV.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 26.23%. 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 £0.0396 and £0.0700. A break-up above any of these levels will issue buy signals. Graniteshares 3x Short Nvidia Daily Etp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Graniteshares 3x Short Nvidia Daily Etp ETF
Graniteshares 3x Short Nvidia Daily Etp finds support from accumulated volume at £0.0375 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 £0.0035 between high and low, or 9.46%. For the last week, the ETF has had daily average volatility of 15.82%.
Our recommended stop-loss: £0.0373 (-3.18%) (This ETF has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (3SNV.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Short Nvidia Daily Etp to open at £0.0387, and during the day (based on 14 day Average True Range), to move between £0.0302 and £0.0468, which gives a possible trading interval of +/-£0.0083 (+/-21.58%) 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 43.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.0390 (1.30%) than the support at £0.0375 (2.60%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Nvidia Daily Etp of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £0.0387 ( 0.433%) | £0.0385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3SNV.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0422 | 9.52% |
| R2 | 0.0408 | 6.05% |
| R1 | 0.0400 | 3.91% |
| Price | 0.0385 | |
| S1 | 0.0373 | -3.04% |
| S2 | 0.0365 | -5.19% |
| S3 | 0.0352 | -8.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0408 | 5.84% |
| R2 | 0.0405 | 5.19% |
| R1 | 0.0390 | 1.30% |
| Price | 0.0385 | |
| S1 | 0.0375 | -2.60% |
| S2 | 0.0310 | -19.48% |
| S3 | 0.0305 | -20.78% |
FAQ
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