Graniteshares Etf Trust - Graniteshares ETF Forecast

Graniteshares Etf Trust - Graniteshares ETF upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on Jun 17, 2024)

AAPB Signals & Forecast

Mostly positive signals in the chart today. 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 $24.87 and $21.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 67.62%. Further rise is indicated until a new top pivot has been found. 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.

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

Graniteshares Etf Trust - Graniteshares finds support from accumulated volume at $26.34 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 $1.51 between high and low, or 5.81%. For the last week, the ETF has had daily average volatility of 8.02%.

The Graniteshares Etf Trust - Graniteshares ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $26.06 (-3.36%) (This ETF has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 45 days ago.)

Trading Expectations (AAPB) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf to open at $26.82, and during the day (based on 14 day Average True Range), to move between $25.93 and $28.01, which gives a possible trading interval of +/-$1.04 (+/-3.85%) 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 7.69% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $26.34, some $0.630 (2.34%) from the current price of $26.97, 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: 5.563 Strong Buy Candidate Upgraded

Predicted Opening Price for Graniteshares Etf Trust - Graniteshares 2x Long Tilray Daily Etf of Tuesday, June 18, 2024

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