Leverage Shares Public Limited ETF Forecast

Evaluation of Leverage Shares Public Limited ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)

5SPY.L Signals & Forecast

The Leverage Shares Public Limited 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 £250.10 and £226.75. 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 -0.267%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Leverage Shares Public Limited ETF

Leverage Shares Public Limited finds support from accumulated volume at £249.98 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 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 £7.45 between high and low, or 2.93%. For the last week, the ETF has had daily average volatility of 2.73%.

Our recommended stop-loss: £245.17 (-3.60%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (5SPY.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Leverage Shares Public Limited to open at £256.54, and during the day (based on 14 day Average True Range), to move between £242.66 and £265.99, which gives a possible trading interval of +/-£11.66 (+/-4.58%) up or down from last closing price. If Leverage Shares Public Limited takes out the full calculated possible swing range there will be an estimated 9.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £255.01 (0.27%) than the support at £249.98 (1.71%), 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 Public Limited ETF A Buy?

Leverage Shares Public Limited 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 Public Limited of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.