Leverage Shares 3x Tesla Etp ETF Forecast
Strong day for Leverage Shares 3x Tesla Etp ETF price on Friday rising 11.62% to £1,437.05
(Updated on Jun 28, 2024)
The Leverage Shares 3x Tesla Etp ETF price gained 11.62% on the last trading day (Friday, 28th Jun 2024), rising from £1,287.50 to £1,437.05. During the last trading day the ETF fluctuated 8.16% from a day low at £1,372.30 to a day high of £1,484.30. The price has risen in 5 of the last 10 days and is up by 28.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 78 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately £111.41 million.
The ETF lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £1,517.78 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 9.70% during the next 3 months and, with a 90% probability hold a price between £778.67 and £1,664.98 at the end of this 3-month period.
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3TSL.L Signals & Forecast
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 £1,208.78 and £1,068.72. 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 52.87%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Leverage Shares 3x Tesla Etp ETF
Leverage Shares 3x Tesla Etp finds support from accumulated volume at £1,427.55 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved £112.00 between high and low, or 8.16%. For the last week, the ETF has had daily average volatility of 7.23%.
Our recommended stop-loss: £1,387.90 (-3.42%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (3TSL.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Tesla Etp to open at £1,431.22, and during the day (based on 14 day Average True Range), to move between £1,325.30 and £1,548.80, which gives a possible trading interval of +/-£111.75 (+/-7.78%) 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 15.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1,427.55, some £9.50 (0.66%) from the current price of £1,437.05, our system finds the risk reward attractive.
Is Leverage Shares 3x Tesla Etp ETF A Buy?
Leverage Shares 3x Tesla Etp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Leverage Shares 3x Tesla Etp of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1,431.22 ( 0.406%) | £1,437.05 |
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 | 1,543.22 | 7.39% |
| R2 | 1,500.43 | 4.41% |
| R1 | 1,474.00 | 2.57% |
| Price | 1,437.05 | |
| S1 | 1,388.43 | -3.38% |
| S2 | 1,362.00 | -5.22% |
| S3 | 1,319.22 | -8.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,437.05 | |
| S1 | 1,427.55 | -0.661% |
| S2 | 1,119.15 | -22.12% |
| S3 | 1,102.75 | -23.26% |
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