ProShares Large Cap Core Plus ETF Forecast
Red day on Friday for ProShares Large Cap Core Plus
(Updated on May 17, 2024)
The ProShares Large Cap Core Plus ETF price fell by -0.248% on the last day (Friday, 17th May 2024) from $60.48 to $60.33. During the last trading day the ETF fluctuated 0.414% from a day low at $60.33 to a day high of $60.58. The price has risen in 8 of the last 10 days and is up by 3.04% over the past 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately $333.63 thousand.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $60.92 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect ProShares Large Cap Core Plus ETF with a 90% probability to be traded between $57.40 and $61.25 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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CSM Signals & Forecast
The ProShares Large Cap Core Plus ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $59.96 and $58.93. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.248%. Further fall is indicated until a new bottom pivot has been found. ProShares Large Cap Core Plus gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Thursday, May 16, 2024 and based on theory for this formation the price should fall by -9.53% to $54.58 within 34 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for ProShares Large Cap Core Plus ETF
ProShares Large Cap Core Plus finds support from accumulated volume at $59.89 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.250 between high and low, or 0.414%. For the last week the ETF has had daily average volatility of 0.367%.
Our recommended stop-loss: $58.72 (-2.67%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CSM) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ProShares Large Cap Core Plus to open at $60.41, and during the day (based on 14 day Average True Range), to move between $59.87 and $60.79, which gives a possible trading interval of +/-$0.463 (+/-0.77%) up or down from last closing price. If ProShares Large Cap Core Plus takes out the full calculated possible swing range there will be an estimated 1.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.39 (0.09%) than the support at $59.89 (0.73%), 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 Large Cap Core Plus ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ProShares Large Cap Core Plus ETF to perform well in the short-term period.
Current score: 1.301 Buy Candidate Unchanged
Predicted Opening Price for ProShares Large Cap Core Plus of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $60.41 ( 0.138%) | $60.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.66 | 0.553 % | |
| R2 | 60.57 | 0.394 % | ||
| R1 | 60.51 | 0.296 % | ||
| Current price: | 60.33 | |||
| Support | S1 | 60.32 | -0.0202 % | |
| S2 | 60.26 | -0.118 % | ||
| S3 | 60.16 | -0.276 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.58 | 0.414 % | |
| R2 | 60.50 | 0.282 % | ||
| R1 | 60.39 | 0.0912 % | ||
| Current price | 60.33 | |||
| Support | S1 | 59.89 | -0.729% | |
| S2 | 59.43 | -1.49% | ||
| S3 | 58.31 | -3.35% |
CSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.146 | 0.241% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.209 | 0.386% |
| 3 | Sep 19, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.145 | 0.299% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.147 | 0.294% |
| 5 | Mar 21, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.142 | 0.304% |
FAQ
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