Leverage Shares 3x Tesla Etp ETF Forecast
A very strong day for Leverage Shares 3x Tesla Etp ETF price on Tuesday
(Updated on Jun 25, 2024)
The Leverage Shares 3x Tesla Etp ETF price gained 5.52% on the last trading day (Tuesday, 25th Jun 2024), rising from £1,087.55 to £1,147.58. During the last trading day the ETF fluctuated 8.30% from a day low at £1,075.80 to a day high of £1,165.05. The price has risen in 6 of the last 10 days and is up by 18.56% over the past 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 29 thousand shares were bought and sold for approximately £32.94 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -2.57% during the next 3 months and, with a 90% probability hold a price between £566.95 and £1,368.55 at the end of this 3-month period.
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3TSL.L Signals & Forecast
Mostly positive signals in the chart today. The Leverage Shares 3x Tesla Etp 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 £1,106.41 and £1,052.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 22.08%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Leverage Shares 3x Tesla Etp ETF
Leverage Shares 3x Tesla Etp finds support from accumulated volume at £1,119.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved £89.25 between high and low, or 8.30%. For the last week, the ETF has had daily average volatility of 7.77%.
Our recommended stop-loss: £1,110.16 (-3.26%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (3TSL.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Tesla Etp to open at £1,129.48, and during the day (based on 14 day Average True Range), to move between £1,036.90 and £1,258.25, which gives a possible trading interval of +/-£110.67 (+/-9.64%) up or down from last closing price. If Leverage Shares 3x Tesla Etp takes out the full calculated possible swing range there will be an estimated 19.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,159.50 (1.04%) than the support at £1,119.15 (2.48%), 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 Tesla Etp ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.321 Buy Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Tesla Etp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £1,129.48 ( 1.58%) | £1,147.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3TSL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,218.73 | 6.20% |
| R2 | 1,184.63 | 3.23% |
| R1 | 1,163.57 | 1.39% |
| Price | 1,147.58 | |
| S1 | 1,095.38 | -4.55% |
| S2 | 1,074.32 | -6.38% |
| S3 | 1,040.23 | -9.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,427.55 | 24.40% |
| R2 | 1,233.80 | 7.51% |
| R1 | 1,159.50 | 1.04% |
| Price | 1,147.58 | |
| S1 | 1,119.15 | -2.48% |
| S2 | 1,102.75 | -3.91% |
| S3 | 895.33 | -21.98% |
FAQ
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