GraniteShares 1.5x Long COIN Daily 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
Evaluation of GraniteShares 1.5x Long COIN Daily ETF downgraded after the last trading session.
(Updated on May 13, 2024)
The GraniteShares 1.5x Long COIN Daily ETF price fell by -1.39% on the last day (Monday, 13th May 2024) from $40.34 to $39.78. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 9.17% from a day low at $39.05 to a day high of $42.63. The price has fallen in 7 of the last 10 days and is down by -18.45% for this period. 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 -467 thousand shares and in total, 2 million shares were bought and sold for approximately $67.23 million.
The ETF is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $32.44 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect GraniteShares 1.5x Long COIN Daily ETF with a 90% probability to be traded between $32.78 and $86.58 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CONL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The GraniteShares 1.5x Long COIN Daily 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 $45.40 and $57.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -53.29%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for GraniteShares 1.5x Long COIN Daily ETF
GraniteShares 1.5x Long COIN Daily finds support from accumulated volume at $39.44 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 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 $3.58 between high and low, or 9.17%. For the last week, the ETF has had daily average volatility of 11.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CONL) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect GraniteShares 1.5x Long COIN Daily ETF to open at $40.49, and during the day (based on 14 day Average True Range), to move between $32.59 and $46.97, which gives a possible trading interval of +/-$7.19 (+/-18.08%) up or down from last closing price. If GraniteShares 1.5x Long COIN Daily ETF takes out the full calculated possible swing range there will be an estimated 36.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.44 (0.85%) than the resistance at $44.79 (12.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GraniteShares 1.5x Long COIN Daily ETF ETF A Buy?
GraniteShares 1.5x Long COIN Daily 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.038 Strong Sell Candidate Downgraded
Predicted Opening Price for GraniteShares 1.5x Long COIN Daily ETF of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $40.49 ( 1.78%) | $39.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CONL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.07 | 10.78 % | |
| R2 | 42.70 | 7.34 % | ||
| R1 | 41.85 | 5.21 % | ||
| Current price: | 39.78 | |||
| Support | S1 | 39.12 | -1.66 % | |
| S2 | 38.27 | -3.79 % | ||
| S3 | 36.91 | -7.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.90 | 20.41 % | |
| R2 | 46.44 | 16.74 % | ||
| R1 | 44.79 | 12.59 % | ||
| Current price | 39.78 | |||
| Support | S1 | 39.44 | -0.85% | |
| S2 | 36.35 | -8.62% | ||
| S3 | 33.57 | -15.61% |
CONL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Feb 27, 2024 | Feb 29, 2024 | $0.109 | 0.225% |
FAQ
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