Leverage Shares 3x Long Taiwan ETF Forecast
Red day on Thursday for Leverage Shares 3x Long Taiwan ETF after losing 3.58%
(Updated on Jun 27, 2024)
The Leverage Shares 3x Long Taiwan ETF price fell by -3.58% on the last day (Thursday, 27th Jun 2024) from 4.66€ to 4.49€. During the last trading day the ETF fluctuated 3.86% from a day low at 4.49€ to a day high of 4.67€. The price has been going up and down for this period, and there has been a -3.96% loss for the last 2 weeks.
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 4.36€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 34.28% during the next 3 months and, with a 90% probability hold a price between 5.85€ and 8.63€ at the end of this 3-month period.
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3TSM.AS Signals & Forecast
The Leverage Shares 3x Long Taiwan ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 4.82€. On a fall, the ETF will find some support from the long-term average at approximately 4.33€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -3.58%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Long Taiwan ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 4.01€ and 3.85€. 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 Long Taiwan finds support just below today's level at 4.01€. If this is broken, then the next support from accumulated volume will be at 3.85€ and 3.84€.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0.174€ between high and low, or 3.86%. For the last week the ETF has had daily average volatility of 3.66%
Our recommended stop-loss: 4.26€ (-5.12%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (3TSM.AS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Leverage Shares 3x Long Taiwan Semiconductor (tsm) Etp Securities to open at 4.55€, and during the day (based on 14 day Average True Range), to move between 4.13€ and 4.85€, which gives a possible trading interval of +/-0.358€ (+/-7.96%) up or down from last closing price. If Leverage Shares 3x Long Taiwan Semiconductor (tsm) Etp Securities takes out the full calculated possible swing range there will be an estimated 15.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 4.52€ (0.63%) than the support at 4.01€ (10.64%), 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 Long Taiwan Semiconductor (tsm) Etp Securities ETF A Buy?
Leverage Shares 3x Long Taiwan 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Long Taiwan Semiconductor (tsm) Etp Securities of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
4.55€ ( 1.29%) | 4.49€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3TSM.AS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.72 | 5.15% |
R2 | 4.66 | 3.67% |
R1 | 4.62 | 2.76% |
Price | 4.49 | |
S1 | 4.48 | -0.188% |
S2 | 4.44 | -1.10% |
S3 | 4.38 | -2.58% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5.17 | 15.02% |
R2 | 4.53 | 0.766% |
R1 | 4.52 | 0.630% |
Price | 4.49 | |
S1 | 4.01 | -10.64% |
S2 | 3.85 | -14.39% |
S3 | 3.84 | -14.50% |
FAQ
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