MicroSectors U.S. Big Banks Index 3X ETF Forecast
MicroSectors U.S. Big Banks Index 3X ETF price up 3.60% on Tuesday
(Updated on Jul 02, 2024)
The MicroSectors U.S. Big Banks Index 3X ETF price gained 3.60% on the last trading day (Tuesday, 2nd Jul 2024), rising from $31.70 to $32.84. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 4.84% from a day low at $31.40 to a day high of $32.92. The price has risen in 6 of the last 10 days and is up by 14.03% over the past 2 weeks. Volume fell on the last day by -60 thousand shares and in total, 223 thousand shares were bought and sold for approximately $7.31 million. 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 weak 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 6.12% during the next 3 months and, with a 90% probability hold a price between $28.73 and $37.74 at the end of this 3-month period.
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BNKU Signals & Forecast
Mostly positive signals in the chart today. The MicroSectors U.S. Big Banks Index 3X 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 $30.61 and $30.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 17.50%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for MicroSectors U.S. Big Banks Index 3X ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $27.93 and $26.07. 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, MicroSectors U.S. Big Banks Index 3X finds support just below today's level at $27.93. If this is broken, then the next support from accumulated volume will be at $26.07 and $25.32.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.52 between high and low, or 4.84%. For the last week, the ETF has had daily average volatility of 3.89%.
Our recommended stop-loss: $31.85 (-3.00%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (BNKU) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MicroSectors U.S. Big Banks Index 3X Leveraged ETNs to open at $32.39, and during the day (based on 14 day Average True Range), to move between $31.47 and $34.21, which gives a possible trading interval of +/-$1.37 (+/-4.17%) up or down from last closing price. If MicroSectors U.S. Big Banks Index 3X Leveraged ETNs takes out the full calculated possible swing range there will be an estimated 8.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.25 (1.25%) than the support at $27.93 (14.95%), 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 MicroSectors U.S. Big Banks Index 3X Leveraged ETNs ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MicroSectors U.S. Big Banks Index 3X ETF to perform well in the short-term.
Current score: 3.621 Buy Candidate Unchanged
Predicted Opening Price for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $32.39 ( 1.38%) | $32.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNKU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.91 | 3.25% |
| R2 | 33.33 | 1.48% |
| R1 | 32.97 | 0.388% |
| Price | 32.84 | |
| S1 | 31.81 | -3.15% |
| S2 | 31.45 | -4.24% |
| S3 | 30.87 | -6.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.50 | 5.05% |
| R2 | 33.84 | 3.05% |
| R1 | 33.25 | 1.25% |
| Price | 32.84 | |
| S1 | 27.93 | -14.95% |
| S2 | 26.07 | -20.62% |
| S3 | 25.32 | -22.90% |
FAQ
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