Leverage Shares -3x Short Coinbase ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Leverage Shares -3x Short Coinbase ETF price up more than 7.64% on Wednesday
(Updated on Jul 03, 2024)
The Leverage Shares -3x Short Coinbase ETF price gained 7.64% on the last trading day (Wednesday, 3rd Jul 2024), rising from £0.373 to £0.402. During the last trading day the ETF fluctuated 6.99% from a day low at £0.387 to a day high of £0.414. The price has risen in 5 of the last 10 days and is up by 9.62% 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, 171 thousand more shares were traded than the day before. In total, 372 thousand shares were bought and sold for approximately £149.35 thousand.
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 -41.09% during the next 3 months and, with a 90% probability hold a price between £0.109 and £0.359 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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CO3S.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Leverage Shares -3x Short Coinbase has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares -3x Short Coinbase 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 £0.416 and £0.463. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -15.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares -3x Short Coinbase ETF
Leverage Shares -3x Short Coinbase finds support from accumulated volume at £0.397 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved £0.0270 between high and low, or 6.99%. For the last week, the ETF has had daily average volatility of 7.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CO3S.L) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Leverage Shares -3x Short Coinbase (coin) Etc to open at £0.401, and during the day (based on 14 day Average True Range), to move between £0.342 and £0.461, which gives a possible trading interval of +/-£0.0593 (+/-14.76%) up or down from last closing price. If Leverage Shares -3x Short Coinbase (coin) Etc takes out the full calculated possible swing range there will be an estimated 29.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.397 (1.18%) than the resistance at £0.443 (10.33%), 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 -3x Short Coinbase (coin) Etc ETF A Buy?
Leverage Shares -3x Short Coinbase 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: -5.400 Strong Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares -3x Short Coinbase (coin) Etc of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| £0.401 ( 0.290%) | £0.402 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CO3S.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.428 | 6.43% |
| R2 | 0.417 | 3.86% |
| R1 | 0.411 | 2.28% |
| Price | 0.402 | |
| S1 | 0.390 | -2.86% |
| S2 | 0.384 | -4.44% |
| S3 | 0.374 | -7.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.473 | 17.67% |
| R2 | 0.453 | 12.76% |
| R1 | 0.443 | 10.33% |
| Price | 0.402 | |
| S1 | 0.397 | -1.18% |
| S2 | 0.379 | -5.60% |
| S3 | 0.364 | -9.33% |
FAQ
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