Xtrackers S&p 500 2x Leveraged Daily ETF Forecast

Stronger technical forecast for Xtrackers S&p 500 2x Leveraged Daily ETF price after Wednesday trading.
(Updated on Jun 26, 2024)

DBPG.F Signals & Forecast

The Xtrackers S&p 500 2x Leveraged Daily ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 194.06€. On a fall, the ETF will find some support from the long-term average at approximately 183.76€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, June 20, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. 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 Xtrackers S&p 500 2x Leveraged Daily ETF

Xtrackers S&p 500 2x Leveraged Daily finds support from accumulated volume at 193.10€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved 2.02€ between high and low, or 1.05%. For the last week the ETF has had daily average volatility of 0.88%.

The Xtrackers S&p 500 2x Leveraged Daily ETF is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the ETF is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: 187.18€ (-3.29%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (DBPG.F) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf to open at 193.86€, and during the day (based on 14 day Average True Range), to move between 191.18€ and 195.94€, which gives a possible trading interval of +/-2.38€ (+/-1.23%) up or down from last closing price. If Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 193.76€ (0.10%) than the support at 193.10€ (0.24%), 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 S&p 500 2x Leveraged Daily Swap Ucits Etf ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Xtrackers S&p 500 2x Leveraged Daily ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.221 Buy Candidate Upgraded

Predicted Opening Price for Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.