Graniteshares Etf Trust - Graniteshares ETF Forecast

Stronger technical forecast for Graniteshares Etf Trust - Graniteshares ETF price after Tuesday trading.
(Updated on Jul 02, 2024)

AAPB Signals & Forecast

The Graniteshares Etf Trust - Graniteshares 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 $25.99 and $23.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 12.77%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Graniteshares Etf Trust - Graniteshares ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $26.10 and $25.16. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Graniteshares Etf Trust - Graniteshares finds support just below today's level at $26.10. If this is broken, then the next support from accumulated volume will be at $25.16 and $24.69.

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 $1.30 between high and low, or 4.92%. For the last week, the ETF has had daily average volatility of 4.46%.

Our recommended stop-loss: $26.69 (-3.70%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (AAPB) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf to open at $27.29, and during the day (based on 14 day Average True Range), to move between $26.57 and $28.87, which gives a possible trading interval of +/-$1.15 (+/-4.14%) up or down from last closing price. If Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf takes out the full calculated possible swing range there will be an estimated 8.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $26.10, some $1.62 (5.84%) from the current price of $27.72, our system finds the risk reward attractive.

Is Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf ETF A Buy?

Graniteshares Etf Trust - Graniteshares holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.642 Strong Buy Candidate Upgraded

Predicted Opening Price for Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf of Wednesday, July 3, 2024

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