Leverage Shares 3x Tesla Etp Scs ETF Forecast
Leverage Shares 3x Tesla Etp Scs ETF price up more than 9.18% on Friday
(Updated on Jun 28, 2024)
The Leverage Shares 3x Tesla Etp Scs ETF price gained 9.18% on the last trading day (Friday, 28th Jun 2024), rising from 15.51€ to 16.94€. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 7.41% from a day low at 16.24€ to a day high of 17.44€. The price has risen in 7 of the last 10 days and is up by 37.13% 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, 2 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately 138.93€ thousand.
The ETF lies in the upper part of a very wide and strong 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 17.90€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 10.40% during the next 3 months and, with a 90% probability hold a price between 9.22€ and 19.76€ at the end of this 3-month period.
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3TSL.MI Signals & Forecast
Mostly positive signals in the chart today. The Leverage Shares 3x Tesla Etp Scs 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 14.33€ and 12.57€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 64.35%. 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). Leverage Shares 3x Tesla Etp Scs has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Leverage Shares 3x Tesla Etp Scs ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 13.27€ and 12.84€. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Tesla Etp Scs finds support just below today's level at 13.27€. If this is broken, then the next support from accumulated volume will be at 12.84€ and 12.77€.
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 1.20€ between high and low, or 7.41%. For the last week, the ETF has had daily average volatility of 10.24%.
Our recommended stop-loss: 16.33€ (-3.58%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (3TSL.MI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Tesla Etp Scs to open at 16.87€, and during the day (based on 14 day Average True Range), to move between 15.58€ and 18.29€, which gives a possible trading interval of +/-1.35€ (+/-8.00%) up or down from last closing price. If Leverage Shares 3x Tesla Etp Scs takes out the full calculated possible swing range there will be an estimated 16.00% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 13.27€, some 3.67€ (21.64%) from the current price of 16.94€, our system finds the risk reward attractive.
Is Leverage Shares 3x Tesla Etp Scs ETF A Buy?
Leverage Shares 3x Tesla Etp Scs holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.325 Strong Buy Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Tesla Etp Scs of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 16.87€ ( 0.386%) | 16.94€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3TSL.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.08 | 6.72% |
| R2 | 17.62 | 4.01% |
| R1 | 17.33 | 2.33% |
| Price | 16.94 | |
| S1 | 16.41 | -3.10% |
| S2 | 16.13 | -4.78% |
| S3 | 15.67 | -7.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 16.94 | |
| S1 | 13.27 | -21.64% |
| S2 | 12.84 | -24.19% |
| S3 | 12.77 | -24.61% |
FAQ
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