Graniteshares 1x Short Amd Daily Etf ETF Forecast
Graniteshares 1x Short Amd Daily Etf ETF downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Graniteshares 1x Short Amd Daily Etf ETF price fell by -2.08% on the last day (Friday, 28th Jun 2024) from $13.01 to $12.74. During the last trading day the ETF fluctuated 3.06% from a day low at $12.44 to a day high of $12.82. The price has risen in 7 of the last 10 days but is still down by -1.77% for this period. Volume has increased on the last day by 497 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 24 thousand shares were bought and sold for approximately $301.87 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 $11.91 and $14.23 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 4.94%. 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). 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 $12.90 and $12.89. A break-up above any of these levels will issue buy signals. Graniteshares 1x Short Amd Daily Etf 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".
Support, Risk & Stop-loss for Graniteshares 1x Short Amd Daily Etf ETF
Graniteshares 1x Short Amd Daily Etf finds support from accumulated volume at $12.59 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 $0.381 (3.06%) between high and low. For the last week, the ETF has had daily average volatility of 2.53%.
Our recommended stop-loss: $12.37 (-2.88%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (AMDS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 1x Short Amd Daily Etf to open at $12.67, and during the day (based on 14 day Average True Range), to move between $12.31 and $13.17, which gives a possible trading interval of +/-$0.432 (+/-3.39%) 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 6.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.76 (0.16%) than the support at $12.59 (1.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Graniteshares 1x Short Amd Daily Etf ETF A Buy?
Graniteshares 1x Short Amd Daily Etf 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.147 Hold/Accumulate Downgraded
Predicted Opening Price for Graniteshares 1x Short Amd Daily Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $12.67 ( 0.573%) | $12.74 |
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 | 13.05 | 2.42% |
| R2 | 12.90 | 1.28% |
| R1 | 12.81 | 0.569% |
| Price | 12.74 | |
| S1 | 12.52 | -1.72% |
| S2 | 12.43 | -2.42% |
| S3 | 12.29 | -3.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.29 | 4.32% |
| R2 | 12.80 | 0.471% |
| R1 | 12.76 | 0.157% |
| Price | 12.74 | |
| S1 | 12.59 | -1.18% |
| S2 | 12.45 | -2.28% |
| S3 | 12.14 | -4.71% |
AMDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 26, 2023 | Dec 27, 2023 | Dec 29, 2023 | $2.20 | 14.28% |
FAQ
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