Leverage Shares 2x Long Berkshire ETF Forecast
Weaker technical forecast for Leverage Shares 2x Long Berkshire as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Leverage Shares 2x Long Berkshire ETF price fell by -0.186% on the last day (Tuesday, 25th Jun 2024) from £8.07 to £8.05. During the last trading day the ETF fluctuated 1.78% from a day low at £8.05 to a day high of £8.19. The price has been going up and down for this period, and there has been a -1.64% loss for the last 2 weeks. Volume has increased on the last day by 525 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, 565 shares were bought and sold for approximately £4.55 thousand.
The ETF lies in the middle of a 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 -3.24% during the next 3 months and, with a 90% probability hold a price between £7.21 and £7.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRK2.L Signals & Forecast
The Leverage Shares 2x Long Berkshire 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 £7.96 and £8.04. A breakdown below any of these levels will issue sell signals. 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 -3.47%. 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). Leverage Shares 2x Long Berkshire gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 2x Long Berkshire ETF
Leverage Shares 2x Long Berkshire finds support from accumulated volume at £7.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved £0.144 between high and low, or 1.78%. For the last week the ETF has had daily average volatility of 2.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRK2.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 2x Long Berkshire Hathaway (brk-b) Etc to open at £8.10, and during the day (based on 14 day Average True Range), to move between £7.84 and £8.26, which gives a possible trading interval of +/-£0.214 (+/-2.66%) up or down from last closing price. If Leverage Shares 2x Long Berkshire Hathaway (brk-b) Etc takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £7.96 (1.13%) than the resistance at £8.49 (5.45%), 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 2x Long Berkshire Hathaway (brk-b) Etc ETF A Buy?
Leverage Shares 2x Long Berkshire holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.835 Sell Candidate Downgraded
Predicted Opening Price for Leverage Shares 2x Long Berkshire Hathaway (brk-b) Etc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £8.10 ( 0.594%) | £8.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRK2.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.24 | 2.38% |
| R2 | 8.19 | 1.70% |
| R1 | 8.15 | 1.28% |
| Price | 8.05 | |
| S1 | 8.04 | -0.0867% |
| S2 | 8.01 | -0.507% |
| S3 | 7.96 | -1.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.55 | 6.20% |
| R2 | 8.51 | 5.70% |
| R1 | 8.49 | 5.45% |
| Price | 8.05 | |
| S1 | 7.96 | -1.13% |
| S2 | 7.90 | -1.88% |
| S3 | 7.76 | -3.61% |
FAQ
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