ProShares Long Online/Short Stores ETF Forecast
ProShares Long Online/Short Stores ETF price down 0.360% on Thursday
(Updated on Jun 20, 2024)
The ProShares Long Online/Short Stores ETF price fell by -0.360% on the last day (Thursday, 20th Jun 2024) from $41.81 to $41.66. During the last trading day the ETF fluctuated 0.602% from a day low at $41.52 to a day high of $41.77. The price has risen in 6 of the last 10 days and is up by 0.42% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -4 thousand shares and in total, 1 thousand shares were bought and sold for approximately $61.11 thousand.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $41.38 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 4.59% during the next 3 months and, with a 90% probability hold a price between $43.28 and $47.33 at the end of this 3-month period.
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CLIX Signals & Forecast
There are mixed signals in the ETF today. The ProShares Long Online/Short Stores 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 $42.05 and $42.71. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 1.60%. 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). The ETF had a Golden Star Signal on Monday, October 09, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, October 09, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for ProShares Long Online/Short Stores ETF
ProShares Long Online/Short Stores finds support from accumulated volume at $41.23 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.250 between high and low, or 0.602%. For the last week the ETF has had daily average volatility of 0.86%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLIX) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect ProShares Long Online/Short Stores ETF to open at $41.65, and during the day (based on 14 day Average True Range), to move between $41.16 and $42.15, which gives a possible trading interval of +/-$0.495 (+/-1.19%) up or down from last closing price. If ProShares Long Online/Short Stores ETF takes out the full calculated possible swing range there will be an estimated 2.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.81 (0.36%) than the support at $41.23 (1.02%), 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 ProShares Long Online/Short Stores ETF ETF A Buy?
ProShares Long Online/Short Stores holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -3.035 Sell Candidate Unchanged
Predicted Opening Price for ProShares Long Online/Short Stores ETF of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $41.65 ( 0.0192%) | $41.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLIX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.90 | 0.581% |
| R2 | 41.80 | 0.352% |
| R1 | 41.74 | 0.210% |
| Price | 41.66 | |
| S1 | 41.55 | -0.248% |
| S2 | 41.49 | -0.390% |
| S3 | 41.40 | -0.619% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.26 | 6.24% |
| R2 | 41.88 | 0.526% |
| R1 | 41.81 | 0.361% |
| Price | 41.66 | |
| S1 | 41.23 | -1.02% |
| S2 | 41.00 | -1.58% |
| S3 | 40.20 | -3.50% |
CLIX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.153 | 0.381% |
| 2 | Dec 22, 2020 | Dec 23, 2020 | Dec 31, 2020 | $0.796 | 0.86% |
| 3 | Sep 22, 2020 | Sep 23, 2020 | Sep 30, 2020 | $0.429 | 0.509% |
FAQ
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