MicroSectors U.S. Big Banks Index 3X ETF Forecast
MicroSectors U.S. Big Banks Index 3X ETF price up 1.79% on Friday
(Updated on May 03, 2024)
The MicroSectors U.S. Big Banks Index 3X ETF price gained 1.79% on the last trading day (Friday, 3rd May 2024), rising from $29.55 to $30.08. It has now gained 3 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 2.64% from a day low at $29.91 to a day high of $30.70. The price has risen in 8 of the last 10 days and is up by 10.18% 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, 33 thousand more shares were traded than the day before. In total, 160 thousand shares were bought and sold for approximately $4.82 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 29.76% during the next 3 months and, with a 90% probability hold a price between $34.88 and $44.51 at the end of this 3-month period.
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BNKU Signals & Forecast
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. 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 $29.48 and $28.55. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 Thursday, March 28, 2024, and so far it has fallen -3.37%. Further fall is indicated until a new bottom pivot has been found.
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 $26.20 and $25.99. 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 $26.20. If this is broken, then the next support from accumulated volume will be at $25.99 and $25.32.
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 $0.790 between high and low, or 2.64%. For the last week, the ETF has had daily average volatility of 3.85%.
Our recommended stop-loss: $28.90 (-3.92%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (BNKU) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect MicroSectors U.S. Big Banks Index 3X Leveraged ETNs to open at $30.23, and during the day (based on 14 day Average True Range), to move between $28.67 and $31.49, which gives a possible trading interval of +/-$1.41 (+/-4.69%) 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 9.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.33 (0.83%) than the support at $26.20 (12.90%), 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: 3.128 Buy Candidate Unchanged
Predicted Opening Price for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $30.23 ( 0.499%) | $30.08 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 31.02 | 3.13 % | |
| R2 | 30.72 | 2.12 % | ||
| R1 | 30.53 | 1.50 % | ||
| Current price: | 30.08 | |||
| Support | S1 | 29.93 | -0.505 % | |
| S2 | 29.74 | -1.12 % | ||
| S3 | 29.44 | -2.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.41 | 1.10 % | |
| R2 | 30.36 | 0.93 % | ||
| R1 | 30.33 | 0.83 % | ||
| Current price | 30.08 | |||
| Support | S1 | 26.20 | -12.90% | |
| S2 | 25.99 | -13.60% | ||
| S3 | 25.32 | -15.82% |
FAQ
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