Leverage Shares 3x Salesforce.com Etc ETF Forecast
Leverage Shares 3x Salesforce.com Etc ETF price ended at £7.09 on Wednesday, after gaining 4.28%.
(Updated on Jul 03, 2024)
The Leverage Shares 3x Salesforce.com Etc ETF price gained 4.28% on the last trading day (Wednesday, 3rd Jul 2024), rising from £6.80 to £7.09. During the last trading day the ETF fluctuated 6.70% from a day low at £6.64 to a day high of £7.09. The price has risen in 5 of the last 10 days and is up by 43.28% 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, 663 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately £8.05 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 -51.31% during the next 3 months and, with a 90% probability hold a price between £0.333 and £4.25 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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CRM3.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 70.80%. 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). Leverage Shares 3x Salesforce.com Etc 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares 3x Salesforce.com Etc ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £7.45. On a fall, the ETF will find some support from the short-term average at £6.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Leverage Shares 3x Salesforce.com Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £5.95 and £5.86. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Salesforce.com Etc finds support just below today's level at £5.95. If this is broken, then the next support from accumulated volume will be at £5.86 and £5.71.
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 £0.445 between high and low, or 6.70%. For the last week, the ETF has had daily average volatility of 4.23%.
The Leverage Shares 3x Salesforce.com Etc ETF is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CRM3.L) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Leverage Shares 3x Salesforce.com Etc to open at £6.94, and during the day (based on 14 day Average True Range), to move between £6.56 and £7.61, which gives a possible trading interval of +/-£0.526 (+/-7.41%) up or down from last closing price. If Leverage Shares 3x Salesforce.com Etc takes out the full calculated possible swing range there will be an estimated 14.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £5.95, some £1.14 (16.05%) from the current price of £7.09, our system finds the risk reward attractive.
Is Leverage Shares 3x Salesforce.com Etc ETF A Buy?
Leverage Shares 3x Salesforce.com Etc 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: -1.897 Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Salesforce.com Etc of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| £6.94 ( 2.09%) | £7.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRM3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.39 | 4.19% |
| R2 | 7.21 | 1.79% |
| R1 | 7.11 | 0.306% |
| Price | 7.09 | |
| S1 | 6.77 | -4.49% |
| S2 | 6.66 | -5.98% |
| S3 | 6.49 | -8.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 7.09 | |
| S1 | 5.95 | -16.05% |
| S2 | 5.86 | -17.36% |
| S3 | 5.71 | -19.43% |
FAQ
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