ProShares Ultra Silver ETF Forecast
Stronger technical forecast for ProShares Ultra Silver ETF price after Wednesday trading.
(Updated on May 01, 2024)
The ProShares Ultra Silver ETF price gained 1.64% on the last trading day (Wednesday, 1st May 2024), rising from $31.64 to $32.16. During the last trading day the ETF fluctuated 4.61% from a day low at $31.75 to a day high of $33.21. The price has fallen in 6 of the last 10 days and is down by -12.77% for this period. Volume fell on the last day by -300 thousand shares and in total, 2 million shares were bought and sold for approximately $48.69 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $31.88 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 53.88% during the next 3 months and, with a 90% probability hold a price between $49.05 and $63.45 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.
AGQ Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares Ultra Silver ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $33.45 and $32.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -16.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ProShares Ultra Silver ETF
ProShares Ultra Silver finds support from accumulated volume at $31.64 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 $1.46 between high and low, or 4.61%. For the last week, the ETF has had daily average volatility of 3.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGQ) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ProShares Ultra Silver ETF to open at $32.37, and during the day (based on 14 day Average True Range), to move between $30.49 and $33.83, which gives a possible trading interval of +/-$1.67 (+/-5.19%) up or down from last closing price. If ProShares Ultra Silver ETF takes out the full calculated possible swing range there will be an estimated 10.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.64 (1.62%) than the resistance at $33.84 (5.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares Ultra Silver ETF ETF A Buy?
The ProShares Ultra Silver ETF holds several negative signals and despite the positive trend, we believe ProShares Ultra Silver will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.150 Sell Candidate Upgraded
Predicted Opening Price for ProShares Ultra Silver ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $32.37 ( 0.661%) | $32.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.84 | 5.21 % | |
| R2 | 33.28 | 3.47 % | ||
| R1 | 32.93 | 2.40 % | ||
| Current price: | 32.16 | |||
| Support | S1 | 31.81 | -1.08 % | |
| S2 | 31.47 | -2.15 % | ||
| S3 | 30.91 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.24 | 12.69 % | |
| R2 | 35.66 | 10.88 % | ||
| R1 | 33.84 | 5.22 % | ||
| Current price | 32.16 | |||
| Support | S1 | 31.64 | -1.62% | |
| S2 | 31.47 | -2.15% | ||
| S3 | 24.31 | -24.41% |
FAQ
Click here for our free guide on how to buy ProShares Ultra Silver ETF ETF.
