Leverage Shares 3x Long Oil & Gas Etc ETF Forecast
Leverage Shares 3x Long Oil & Gas Etc ETF upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Leverage Shares 3x Long Oil & Gas Etc ETF price gained 4.97% on the last trading day (Friday, 28th Jun 2024), rising from £9.62 to £10.09. During the last trading day the ETF fluctuated 2.21% from a day low at £10.00 to a day high of £10.22. The price has fallen in 5 of the last 10 days but is still up by 8.53% 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, 20 more shares were traded than the day before. In total, 20 shares were bought and sold for approximately £201.87 .
Given the current short-term trend, the ETF is expected to fall -26.46% during the next 3 months and, with a 90% probability hold a price between £6.05 and £7.42 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3XEE.L Signals & Forecast
The Leverage Shares 3x Long Oil & Gas Etc ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £9.49 and £10.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 18.11%. 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 Long Oil & Gas Etc 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Long Oil & Gas Etc ETF
Leverage Shares 3x Long Oil & Gas Etc finds support from accumulated volume at £10.05 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 £0.221 between high and low, or 2.21%. For the last week, the ETF has had daily average volatility of 2.28%.
Our recommended stop-loss: £9.71 (-3.80%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (3XEE.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Long Oil & Gas Etc to open at £10.10, and during the day (based on 14 day Average True Range), to move between £9.70 and £10.49, which gives a possible trading interval of +/-£0.395 (+/-3.91%) up or down from last closing price. If Leverage Shares 3x Long Oil & Gas Etc takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £10.05 (0.44%) than the resistance at £10.29 (1.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 3x Long Oil & Gas Etc ETF A Buy?
Leverage Shares 3x Long Oil & Gas Etc 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. 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 Leverage Shares 3x Long Oil & Gas Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £10.10 ( 0.106%) | £10.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3XEE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.33 | 2.30% |
| R2 | 10.24 | 1.46% |
| R1 | 10.19 | 0.94% |
| Price | 10.09 | |
| S1 | 10.02 | -0.731% |
| S2 | 9.97 | -1.25% |
| S3 | 9.88 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.19 | 10.86% |
| R2 | 10.57 | 4.72% |
| R1 | 10.29 | 1.95% |
| Price | 10.09 | |
| S1 | 10.05 | -0.436% |
| S2 | 9.62 | -4.73% |
| S3 | 9.53 | -5.55% |
FAQ
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