Leverage Shares 3x Long Coinbase (coin) ETF Forecast
Volatile ride for Leverage Shares 3x Long Coinbase (coin) ETF price on Tuesday moving between £37.94 and £41.98
(Updated on Jun 25, 2024)
The Leverage Shares 3x Long Coinbase (coin) ETF price gained 6.84% on the last trading day (Tuesday, 25th Jun 2024), rising from £39.29 to £41.98. During the last trading day the ETF fluctuated 10.65% from a day low at £37.94 to a day high of £41.98. The price has fallen in 7 of the last 10 days and is down by -32.92% for this period. Volume fell on the last day by -22 thousand shares and in total, 22 thousand shares were bought and sold for approximately £922.36 thousand. 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 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 -42.86% during the next 3 months and, with a 90% probability hold a price between £9.51 and £35.30 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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CON3.L Signals & Forecast
There are few to no technical positive signals at the moment. The Leverage Shares 3x Long Coinbase (coin) 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 £48.90 and £51.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -40.38%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Leverage Shares 3x Long Coinbase (coin) ETF
Leverage Shares 3x Long Coinbase (coin) finds support from accumulated volume at £41.11 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 periodic low trading volume this ETF is considered to be "very high risk". During the last day, the ETF moved £4.04 between high and low, or 10.65%. For the last week the ETF has had daily average volatility of 11.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CON3.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Long Coinbase (coin) Etc to open at £40.63, and during the day (based on 14 day Average True Range), to move between £33.59 and £50.37, which gives a possible trading interval of +/-£8.39 (+/-19.98%) up or down from last closing price. If Leverage Shares 3x Long Coinbase (coin) Etc takes out the full calculated possible swing range there will be an estimated 39.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £41.11 (2.07%) than the resistance at £44.70 (6.47%), 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 Long Coinbase (coin) Etc ETF A Buy?
Leverage Shares 3x Long Coinbase (coin) 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: -5.692 Strong Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Long Coinbase (coin) Etc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £40.63 ( 3.21%) | £41.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CON3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.67 | 6.42% |
| R2 | 43.13 | 2.74% |
| R1 | 42.18 | 0.468% |
| Price | 41.98 | |
| S1 | 39.09 | -6.88% |
| S2 | 38.14 | -9.16% |
| S3 | 36.59 | -12.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 49.59 | 18.13% |
| R2 | 46.86 | 11.63% |
| R1 | 44.70 | 6.47% |
| Price | 41.98 | |
| S1 | 41.11 | -2.07% |
| S2 | 40.47 | -3.59% |
| S3 | 39.29 | -6.40% |
FAQ
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