Proshares Trust ETF Forecast
Green day on Wednesday for Proshares Trust
(Updated on Jun 26, 2024)
The Proshares Trust ETF price gained 0.107% on the last trading day (Wednesday, 26th Jun 2024), rising from $69.98 to $70.06. During the last trading day the ETF fluctuated 0.654% from a day low at $69.60 to a day high of $70.06. The price has been going up and down for this period, and there has been a -6.14% loss for the last 2 weeks. Volume fell on the last day by -389 shares and in total, 288 shares were bought and sold for approximately $20.18 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -5.31% during the next 3 months and, with a 90% probability hold a price between $58.88 and $75.45 at the end of this 3-month period.
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BETE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.30%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Proshares Trust ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $71.50 and $74.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Proshares Trust ETF
Proshares Trust finds support from accumulated volume at $69.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.455 between high and low, or 0.654%. For the last week the ETF has had daily average volatility of 1.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BETE) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Proshares Trust to open at $69.90, and during the day (based on 14 day Average True Range), to move between $67.89 and $72.22, which gives a possible trading interval of +/-$2.16 (+/-3.09%) up or down from last closing price. If Proshares Trust takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $69.86 (0.28%) than the resistance at $76.68 (9.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Proshares Trust ETF A Buy?
Proshares Trust holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.631 Sell Candidate Unchanged
Predicted Opening Price for Proshares Trust of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$69.90 ( 0.216%) | $70.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BETE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 70.36 | 0.433% |
R2 | 70.18 | 0.185% |
R1 | 70.08 | 0.0316% |
Price | 70.06 | |
S1 | 69.73 | -0.465% |
S2 | 69.62 | -0.618% |
S3 | 69.45 | -0.87% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 80.40 | 14.77% |
R2 | 77.92 | 11.23% |
R1 | 76.68 | 9.46% |
Price | 70.06 | |
S1 | 69.86 | -0.278% |
S2 | 67.82 | -3.19% |
S3 | 67.17 | -4.12% |
FAQ
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