GraniteShares 1.75x Long BABA Daily ETF Forecast

$15.97
-0.81 (-4.83%)
At Close: May 23, 2024
RSI low/high Values: [ 20 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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GraniteShares 1.75x Long BABA Daily ETF price down 4.83% on Thursday
(Updated on May 23, 2024)

Buy or Hold candidate since May 15, 2024 Loss -1.78% PDF

The GraniteShares 1.75x Long BABA Daily ETF price fell by -4.83% on the last day (Thursday, 23rd May 2024) from $16.78 to $15.97. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 7.37% from a day low at $15.73 to a day high of $16.89. The price has been going up and down for this period, and there has been a 1.14% gain for the last 2 weeks. Volume has increased on the last day by 149 thousand 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, 411 thousand shares were bought and sold for approximately $6.57 million.

The ETF lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 17.94% during the next 3 months and, with a 90% probability hold a price between $15.66 and $23.02 at the end of this 3-month period.

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BABX Signals & Forecast

The GraniteShares 1.75x Long BABA Daily ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $17.76. On a fall, the ETF will find some support from the long-term average at approximately $14.98. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 17, 2024, and so far it has fallen -17.38%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for GraniteShares 1.75x Long BABA Daily ETF

GraniteShares 1.75x Long BABA Daily finds support from accumulated volume at $15.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.16 between high and low, or 7.37%. For the last week, the ETF has had daily average volatility of 6.07%.

Our recommended stop-loss: $15.17 (-5.04%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (BABX) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect GraniteShares 1.75x Long BABA Daily ETF to open at $16.20, and during the day (based on 14 day Average True Range), to move between $14.89 and $17.05, which gives a possible trading interval of +/-$1.08 (+/-6.76%) up or down from last closing price. If GraniteShares 1.75x Long BABA Daily ETF takes out the full calculated possible swing range there will be an estimated 13.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.70 (1.69%) than the resistance at $16.59 (3.88%), 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 1.75x Long BABA Daily ETF ETF A Buy?

GraniteShares 1.75x Long BABA Daily 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.

Current score: -0.466 Hold/Accumulate Unchanged

Predicted Opening Price for GraniteShares 1.75x Long BABA Daily ETF of Friday, May 24, 2024

Fair opening price May 24, 2024 Current price
$16.20 ( 1.42%) $15.97

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

Trading levels for BABX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 17.36 8.68 %
R2 16.91 5.91 %
R1 16.64 4.19 %
Current price: 15.97
Support S1 15.75 -1.36 %
S2 15.48 -3.07 %
S3 15.04 -5.84 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 18.54 16.09 %
R2 16.78 5.07 %
R1 16.59 3.88 %
Current price 15.97
Support S1 15.70 -1.69%
S2 14.07 -11.93%
S3 13.13 -17.78%

FAQ

What is the symbol for GraniteShares 1.75x Long BABA Daily ETF ETF and on which exchange is it traded?
The symbol for GraniteShares 1.75x Long BABA Daily ETF is BABX and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell GraniteShares 1.75x Long BABA Daily ETF ETF?
GraniteShares 1.75x Long BABA Daily 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.

How to buy GraniteShares 1.75x Long BABA Daily ETF ETF?
GraniteShares 1.75x Long BABA Daily ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy GraniteShares 1.75x Long BABA Daily ETF ETF.

What's the current price of GraniteShares 1.75x Long BABA Daily ETF ETF?
As of the end of day on the May 23, 2024, the price of an GraniteShares 1.75x Long BABA Daily ETF (BABX) share was $15.97.

What is the 52-week high and low for GraniteShares 1.75x Long BABA Daily ETF ETF?
The 52-week high for GraniteShares 1.75x Long BABA Daily ETF ETF is $27.33 and the 52-week low is $11.85.

What is the market capitalization of GraniteShares 1.75x Long BABA Daily ETF ETF?
As of the May 23, 2024, the market capitalization of GraniteShares 1.75x Long BABA Daily ETF is 13.432M.
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