Graniteshares 3x Short Uber Daily Etp ETF Forecast

High volatility in Graniteshares 3x Short Uber Daily Etp ETF price on Friday which ended trading at £1.87
(Updated on Jun 28, 2024)

3SUB.L Signals & Forecast

There are few to no technical positive signals at the moment. The Graniteshares 3x Short Uber 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 £2.05 and £2.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -38.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Graniteshares 3x Short Uber 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". The very low volume increases the risk and reduces the other technical signals issued.

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

Graniteshares 3x Short Uber Daily Etp finds support from accumulated volume at £1.84 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 £0.261 between high and low, or 13.95%. For the last week, the ETF has had daily average volatility of 4.74%.

Graniteshares 3x Short Uber Daily Etp is oversold on RSI14 (17). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: £1.77 (-5.66%) (This ETF has very high daily movements and this gives very high risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (3SUB.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Graniteshares 3x Short Uber Daily Etp to open at £1.96, and during the day (based on 14 day Average True Range), to move between £1.72 and £2.02, which gives a possible trading interval of +/-£0.147 (+/-7.83%) up or down from last closing price. If Graniteshares 3x Short Uber Daily Etp takes out the full calculated possible swing range there will be an estimated 15.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £1.84 (1.66%) than the resistance at £2.02 (7.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Graniteshares 3x Short Uber Daily Etp ETF A Buy?

Graniteshares 3x Short Uber 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 Uber Daily Etp of Monday, July 1, 2024

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