Leverage Shares 5x Long Us Tech 100 Etc ETF Forecast
High volatility in Leverage Shares 5x Long Us Tech 100 Etc ETF price on Friday which ended trading at £145.04
(Updated on Jun 28, 2024)
The Leverage Shares 5x Long Us Tech 100 Etc ETF price gained 4.27% on the last trading day (Friday, 28th Jun 2024), rising from £139.10 to £145.04. During the last trading day the ETF fluctuated 10.51% from a day low at £138.13 to a day high of £152.65. The price has risen in 7 of the last 10 days and is up by 9.66% 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, 258 thousand more shares were traded than the day before. In total, 258 thousand shares were bought and sold for approximately £37.45 million.
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 £151.82 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 50.05% during the next 3 months and, with a 90% probability hold a price between £170.97 and £227.80 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
5QQQ.L Signals & Forecast
The Leverage Shares 5x Long Us Tech 100 Etc 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 £142.32 and £117.90. A breakdown below any of these levels will issue sell signals. 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. 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 Thursday, June 20, 2024, and so far it has fallen -1.63%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares 5x Long Us Tech 100 Etc ETF
Leverage Shares 5x Long Us Tech 100 Etc finds support from accumulated volume at £141.53 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 £14.52 between high and low, or 10.51%. For the last week, the ETF has had daily average volatility of 7.51%.
Our recommended stop-loss: £138.95 (-4.20%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (5QQQ.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 5x Long Us Tech 100 Etc to open at £145.27, and during the day (based on 14 day Average True Range), to move between £135.98 and £154.11, which gives a possible trading interval of +/-£9.07 (+/-6.25%) up or down from last closing price. If Leverage Shares 5x Long Us Tech 100 Etc takes out the full calculated possible swing range there will be an estimated 12.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £146.48 (0.99%) than the support at £141.53 (2.42%), 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 Etc ETF A Buy?
Leverage Shares 5x Long Us Tech 100 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. 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 5x Long Us Tech 100 Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £145.27 ( 0.157%) | £145.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5QQQ.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 159.79 | 10.17% |
| R2 | 154.24 | 6.34% |
| R1 | 150.82 | 3.98% |
| Price | 145.04 | |
| S1 | 139.73 | -3.67% |
| S2 | 136.30 | -6.03% |
| S3 | 130.75 | -9.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 147.45 | 1.66% |
| R1 | 146.48 | 0.99% |
| Price | 145.04 | |
| S1 | 141.53 | -2.42% |
| S2 | 141.34 | -2.56% |
| S3 | 115.39 | -20.44% |
FAQ
Click here for our free guide on how to buy Leverage Shares 5x Long Us Tech 100 Etc ETF.
