Leverage Shares 3x Short Amazon (amzn) ETF Forecast

Leverage Shares 3x Short Amazon (amzn) ETF price took a fall of -11.78% on Friday
(Updated on Jun 28, 2024)

AM3S.L Signals & Forecast

There are few to no technical positive signals at the moment. The Leverage Shares 3x Short Amazon (amzn) ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.654 and £0.700. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -31.05%. 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). Leverage Shares 3x Short Amazon (amzn) gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Leverage Shares 3x Short Amazon (amzn) ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 £0.0088 between high and low, or 1.60%. For the last week, the ETF has had daily average volatility of 2.25%.

Leverage Shares 3x Short Amazon (amzn) is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: £0.529 (-5.64%) (This ETF has high daily movements and this gives high risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (AM3S.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Short Amazon (amzn) Etp Securities to open at £0.557, and during the day (based on 14 day Average True Range), to move between £0.527 and £0.593, which gives a possible trading interval of +/-£0.0330 (+/-5.89%) up or down from last closing price. If Leverage Shares 3x Short Amazon (amzn) Etp Securities takes out the full calculated possible swing range there will be an estimated 11.78% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ £0.650, some £0.0899 (16.04%) from the current price of £0.560, our system finds the risk reward not very attractive.

Is Leverage Shares 3x Short Amazon (amzn) Etp Securities ETF A Buy?

Leverage Shares 3x Short Amazon (amzn) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 3x Short Amazon (amzn) Etp Securities of Monday, July 1, 2024

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