Xtrackers S&p 500 2x Inverse Daily Swap ETF Forecast
Xtrackers S&p 500 2x Inverse Daily Swap ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Xtrackers S&p 500 2x Inverse Daily Swap ETF price gained 0.95% on the last trading day (Tuesday, 25th Jun 2024), rising from 0.262€ to 0.265€. During the last trading day the ETF fluctuated 0.605% from a day low at 0.264€ to a day high of 0.266€. The price has been going up and down for this period, and there has been a -3.36% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately 1.06€ million.
The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 0.259€ is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -9.70% during the next 3 months and, with a 90% probability hold a price between 0.234€ and 0.264€ 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DBPK.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.61%. Further rise is indicated until a new top pivot has been found. Xtrackers S&p 500 2x Inverse Daily Swap 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xtrackers S&p 500 2x Inverse Daily Swap 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 0.273€. On a fall, the ETF will find some support from the short-term average at 0.263€. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Xtrackers S&p 500 2x Inverse Daily Swap ETF
Xtrackers S&p 500 2x Inverse Daily Swap finds support from accumulated volume at 0.263€ 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved 0.0016€ between high and low, or 0.605%. For the last week, the ETF has had daily average volatility of 0.82%.
Our recommended stop-loss: 0.251€ (-5.37%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (DBPK.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf to open at 0.265€, and during the day (based on 14 day Average True Range), to move between 0.260€ and 0.269€, which gives a possible trading interval of +/-0.0045€ (+/-1.68%) up or down from last closing price. If Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.267€ (0.60%) than the support at 0.263€ (0.83%), 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 Inverse Daily Swap Ucits Etf ETF A Buy?
Xtrackers S&p 500 2x Inverse Daily Swap 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: -0.614 Hold/Accumulate Upgraded
Predicted Opening Price for Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 0.265€ ( 0.0755%) | 0.265€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBPK.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.267 | 0.680% |
| R2 | 0.266 | 0.449% |
| R1 | 0.266 | 0.306% |
| Price | 0.265 | |
| S1 | 0.264 | -0.155% |
| S2 | 0.264 | -0.298% |
| S3 | 0.264 | -0.529% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.274 | 3.40% |
| R2 | 0.271 | 2.34% |
| R1 | 0.267 | 0.604% |
| Price | 0.265 | |
| S1 | 0.263 | -0.83% |
| S2 | 0.262 | -1.06% |
| S3 | 0.261 | -1.55% |
FAQ
Click here for our free guide on how to buy Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf ETF.
