Csop Nasdaq-100 Index Daily (2x) ETF Forecast
Green day on Friday for Csop Nasdaq-100 Index Daily (2x) ETF after gaining 1.58%
(Updated on Jun 28, 2024)
The Csop Nasdaq-100 Index Daily (2x) ETF price gained 1.58% on the last trading day (Friday, 28th Jun 2024), rising from HK$24.04 to HK$24.42. During the last trading day the ETF fluctuated 0.492% from a day low at HK$24.38 to a day high of HK$24.50. The price has risen in 6 of the last 10 days and is up by 1.92% 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, 19 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately HK$1.30 million.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 14.92% during the next 3 months and, with a 90% probability hold a price between HK$27.50 and HK$29.65 at the end of this 3-month period.
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7266.HK Signals & Forecast
The Csop Nasdaq-100 Index Daily (2x) 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 HK$24.24 and HK$23.14. 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). Csop Nasdaq-100 Index Daily (2x) 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. Higher liquidity also reduces the general risk. 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 -2.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Csop Nasdaq-100 Index Daily (2x) ETF
Csop Nasdaq-100 Index Daily (2x) finds support from accumulated volume at HK$24.22 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 HK$0.120 between high and low, or 0.492%. For the last week, the ETF has had daily average volatility of 0.650%.
Our recommended stop-loss: HK$23.52 (-3.70%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (7266.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Csop Nasdaq-100 Index Daily (2x) Leveraged Product to open at HK$24.43, and during the day (based on 14 day Average True Range), to move between HK$24.02 and HK$24.82, which gives a possible trading interval of +/-HK$0.405 (+/-1.66%) up or down from last closing price. If Csop Nasdaq-100 Index Daily (2x) Leveraged Product takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$24.22 (0.82%) than the resistance at HK$24.66 (0.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Csop Nasdaq-100 Index Daily (2x) Leveraged Product 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 Csop Nasdaq-100 Index Daily (2x) ETF to perform well in the short-term.
Current score: 3.369 Buy Candidate Unchanged
Predicted Opening Price for Csop Nasdaq-100 Index Daily (2x) Leveraged Product of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$24.43 ( 0.0546%) | HK$24.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7266.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.55 | 0.546% |
| R2 | 24.51 | 0.358% |
| R1 | 24.48 | 0.242% |
| Price | 24.42 | |
| S1 | 24.39 | -0.133% |
| S2 | 24.36 | -0.249% |
| S3 | 24.31 | -0.437% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.96 | 2.21% |
| R2 | 24.72 | 1.23% |
| R1 | 24.66 | 0.98% |
| Price | 24.42 | |
| S1 | 24.22 | -0.82% |
| S2 | 24.18 | -0.98% |
| S3 | 21.62 | -11.47% |
FAQ
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