Leverage Shares 5x Long Us Tech 100 Etp ETF Forecast
Stronger technical forecast for Leverage Shares 5x Long Us Tech 100 Etp ETF price after Thursday trading.
(Updated on Jun 27, 2024)
The Leverage Shares 5x Long Us Tech 100 Etp ETF price fell by -1.51% on the last day (Thursday, 27th Jun 2024) from 1.68€ to 1.66€. During the last trading day the ETF fluctuated 3.36% from a day low at 1.64€ to a day high of 1.70€. The price has risen in 6 of the last 10 days and is up by 2.08% over the past 2 weeks. Volume has increased on the last day by 20 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 20 thousand shares were bought and sold for approximately 33.14€ thousand.
The ETF lies in the lower part of a 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 1.62€ 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 39.52% during the next 3 months and, with a 90% probability hold a price between 2.25€ and 2.67€ at the end of this 3-month period.
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5QQQ.AS Signals & Forecast
The Leverage Shares 5x Long Us Tech 100 Etp 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 1.68€. On a fall, the ETF will find some support from the long-term average at approximately 1.50€. 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 19, 2024, and so far it has fallen -6.18%. Further fall is indicated until a new bottom pivot has been found. Leverage Shares 5x Long Us Tech 100 Etp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 5x Long Us Tech 100 Etp ETF
Leverage Shares 5x Long Us Tech 100 Etp finds support from accumulated volume at 1.60€ 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved 0.0552€ between high and low, or 3.36%. For the last week, the ETF has had daily average volatility of 3.59%.
Our recommended stop-loss: 1.60€ (-3.51%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (5QQQ.AS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Leverage Shares 5x Long Us Tech 100 Etp Securities to open at 1.67€, and during the day (based on 14 day Average True Range), to move between 1.58€ and 1.73€, which gives a possible trading interval of +/-0.0724€ (+/-4.37%) up or down from last closing price. If Leverage Shares 5x Long Us Tech 100 Etp Securities takes out the full calculated possible swing range there will be an estimated 8.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 1.66€ (0.21%) than the support at 1.60€ (3.49%), 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 5x Long Us Tech 100 Etp Securities ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Leverage Shares 5x Long Us Tech 100 Etp 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: 1.649 Buy Candidate Upgraded
Predicted Opening Price for Leverage Shares 5x Long Us Tech 100 Etp Securities of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 1.67€ ( 0.616%) | 1.66€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5QQQ.AS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.72 | 3.95% |
| R2 | 1.70 | 2.67% |
| R1 | 1.69 | 1.89% |
| Price | 1.66 | |
| S1 | 1.65 | -0.657% |
| S2 | 1.63 | -1.44% |
| S3 | 1.61 | -2.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.77 | 6.59% |
| R2 | 1.75 | 5.50% |
| R1 | 1.66 | 0.211% |
| Price | 1.66 | |
| S1 | 1.60 | -3.49% |
| S2 | 1.57 | -5.45% |
| S3 | 1.40 | -15.52% |
FAQ
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