Leverage Shares 3x Boeing Etp ETF Forecast

A very strong day for Leverage Shares 3x Boeing Etp ETF price on Friday
(Updated on Jun 28, 2024)

BA3.L Signals & Forecast

The Leverage Shares 3x Boeing Etp ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £0.262 and £0.285. A breakdown below any of these levels will issue sell signals. Leverage Shares 3x Boeing Etp 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -13.19%. 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 Leverage Shares 3x Boeing Etp ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £0.263 and £0.262. 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 Boeing Etp finds support just below today's level at £0.263. If this is broken, then the next support from accumulated volume will be at £0.262 and £0.251.

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 £0.0211 between high and low, or 7.32%. For the last week, the ETF has had daily average volatility of 5.39%.

Our recommended stop-loss: £0.272 (-6.18%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 41 days ago.)

Trading Expectations (BA3.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Boeing Etp to open at £0.296, and during the day (based on 14 day Average True Range), to move between £0.270 and £0.311, which gives a possible trading interval of +/-£0.0207 (+/-7.13%) up or down from last closing price. If Leverage Shares 3x Boeing Etp takes out the full calculated possible swing range there will be an estimated 14.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.263 (9.51%) than the resistance at £0.322 (10.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Leverage Shares 3x Boeing Etp ETF A Buy?

Leverage Shares 3x Boeing Etp 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. 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 Boeing Etp of Monday, July 1, 2024

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