Leverage Shares 3x Amazon Etc ETF Forecast
Leverage Shares 3x Amazon Etc ETF price up more than 7.23% on Friday
(Updated on Jun 28, 2024)
The Leverage Shares 3x Amazon Etc ETF price gained 7.23% on the last trading day (Friday, 28th Jun 2024), rising from £10.57 to £11.33. During the last trading day the ETF fluctuated 5.86% from a day low at £11.33 to a day high of £11.99. The price has risen in 6 of the last 10 days and is up by 18.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately £382.20 thousand.
The ETF has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £10.77 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach £13.59 sometime during the next 3 months.
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AMZ3.L Signals & Forecast
The Leverage Shares 3x Amazon Etc 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 £10.25 and £9.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 37.52%. 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). Leverage Shares 3x Amazon Etc 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.
Support, Risk & Stop-loss for Leverage Shares 3x Amazon Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £10.02 and £9.80. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Amazon Etc finds support just below today's level at £10.02. If this is broken, then the next support from accumulated volume will be at £9.80 and £9.41.
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 £0.664 between high and low, or 5.86%. For the last week, the ETF has had daily average volatility of 4.67%.
Our recommended stop-loss: £10.93 (-3.56%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (AMZ3.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Amazon Etc to open at £11.55, and during the day (based on 14 day Average True Range), to move between £10.75 and £11.91, which gives a possible trading interval of +/-£0.582 (+/-5.13%) up or down from last closing price. If Leverage Shares 3x Amazon Etc takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £10.02, some £1.31 (11.58%) from the current price of £11.33, our system finds the risk reward attractive.
Is Leverage Shares 3x Amazon Etc ETF A Buy?
Leverage Shares 3x Amazon Etc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 Amazon Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £11.55 ( 1.92%) | £11.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMZ3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.21 | 7.78% |
| R2 | 11.96 | 5.54% |
| R1 | 11.80 | 4.15% |
| Price | 11.33 | |
| S1 | 11.30 | -0.322% |
| S2 | 11.14 | -1.70% |
| S3 | 10.88 | -3.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11.33 | |
| S1 | 10.02 | -11.58% |
| S2 | 9.80 | -13.52% |
| S3 | 9.41 | -16.96% |
FAQ
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