Graniteshares 1x Short Amd Daily Etf ETF Forecast
Graniteshares 1x Short Amd Daily Etf ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Graniteshares 1x Short Amd Daily Etf ETF price gained 0.0635% on the last trading day (Tuesday, 25th Jun 2024), rising from $12.92 to $12.93. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.29% from a day low at $12.91 to a day high of $13.21. The price has risen in 8 of the last 10 days but is still down by -0.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately $424.86 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Graniteshares 1x Short Amd Daily Etf ETF with a 90% probability to be traded between $12.29 and $14.77 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AMDS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 6.49%. 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). Graniteshares 1x Short Amd Daily Etf 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. The Graniteshares 1x Short Amd Daily Etf 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 $13.00 and $12.94. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Graniteshares 1x Short Amd Daily Etf ETF
Graniteshares 1x Short Amd Daily Etf finds support from accumulated volume at $12.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.295 (2.29%) between high and low. For the last week, the ETF has had daily average volatility of 3.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMDS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Graniteshares 1x Short Amd Daily Etf to open at $13.01, and during the day (based on 14 day Average True Range), to move between $12.49 and $13.37, which gives a possible trading interval of +/-$0.440 (+/-3.40%) up or down from last closing price. If Graniteshares 1x Short Amd Daily Etf takes out the full calculated possible swing range there will be an estimated 6.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.80 (0.99%) than the resistance at $13.26 (2.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Graniteshares 1x Short Amd Daily Etf ETF A Buy?
Graniteshares 1x Short Amd Daily Etf holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.590 Sell Candidate Downgraded
Predicted Opening Price for Graniteshares 1x Short Amd Daily Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $13.01 ( 0.667%) | $12.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMDS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.31 | 2.95% |
| R2 | 13.20 | 2.08% |
| R1 | 13.13 | 1.54% |
| Price | 12.93 | |
| S1 | 12.90 | -0.205% |
| S2 | 12.83 | -0.743% |
| S3 | 12.72 | -1.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.64 | 5.51% |
| R2 | 13.29 | 2.80% |
| R1 | 13.26 | 2.57% |
| Price | 12.93 | |
| S1 | 12.80 | -0.99% |
| S2 | 12.74 | -1.46% |
| S3 | 12.45 | -3.70% |
AMDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 26, 2023 | Dec 27, 2023 | Dec 29, 2023 | $2.20 | 14.28% |
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