Xtrackers Shortdax X2 Daily Swap Ucits ETF Forecast
Stronger technical forecast for Xtrackers Shortdax X2 Daily Swap Ucits ETF price after Wednesday trading.
(Updated on Jun 26, 2024)
The Xtrackers Shortdax X2 Daily Swap Ucits ETF price gained 0.0860% on the last trading day (Wednesday, 26th Jun 2024), rising from 0.93€ to 0.93€. During the last trading day the ETF fluctuated 3.41% from a day low at 0.91€ to a day high of 0.94€. The price has risen in 6 of the last 10 days and is up by 5.34% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately 2.11€ million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Xtrackers Shortdax X2 Daily Swap Ucits ETF with a 90% probability to be traded between 0.83€ and 0.94€ 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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DBPD.F Signals & Forecast
The Xtrackers Shortdax X2 Daily Swap Ucits 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 0.93€ and 0.89€. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, June 14, 2024, and so far it has fallen -1.47%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Xtrackers Shortdax X2 Daily Swap Ucits ETF
Xtrackers Shortdax X2 Daily Swap Ucits finds support from accumulated volume at 0.92€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 0.0311€ (3.41%) between high and low. For the last week, the ETF has had daily average volatility of 1.82%.
Our recommended stop-loss: 0.89€ (-4.03%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (DBPD.F) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Xtrackers Shortdax X2 Daily Swap Ucits Etf to open at 0.93€, and during the day (based on 14 day Average True Range), to move between 0.91€ and 0.95€, which gives a possible trading interval of +/-0.0195€ (+/-2.10%) up or down from last closing price. If Xtrackers Shortdax X2 Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.94€ (0.85%) than the support at 0.92€ (1.02%), 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 Xtrackers Shortdax X2 Daily Swap Ucits Etf ETF A Buy?
Xtrackers Shortdax X2 Daily Swap Ucits holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.505 Hold/Accumulate Upgraded
Predicted Opening Price for Xtrackers Shortdax X2 Daily Swap Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 0.93€ ( 0.319%) | 0.93€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBPD.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | 3.02% |
| R2 | 0.95 | 1.75% |
| R1 | 0.94 | 0.96% |
| Price | 0.93 | |
| S1 | 0.92 | -1.60% |
| S2 | 0.91 | -2.38% |
| S3 | 0.90 | -3.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | 3.62% |
| R2 | 0.96 | 3.20% |
| R1 | 0.94 | 0.85% |
| Price | 0.93 | |
| S1 | 0.92 | -1.02% |
| S2 | 0.92 | -1.41% |
| S3 | 0.89 | -4.51% |
FAQ
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