L&g Dax Daily 2x Long Ucits Etf ETF Forecast
L&g Dax Daily 2x Long Ucits Etf ETF upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The L&g Dax Daily 2x Long Ucits Etf ETF price fell by -0.332% on the last day (Wednesday, 26th Jun 2024) from 436.90€ to 435.45€. During the last trading day the ETF fluctuated 3.06% from a day low at 432.00€ to a day high of 445.20€. The price has fallen in 6 of the last 10 days and is down by -5.28% for this period. 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, 3 thousand shares were bought and sold for approximately 1.41€ million.
The ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 427.82€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect L&g Dax Daily 2x Long Ucits Etf ETF with a 90% probability to be traded between 435.64€ and 487.77€ 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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DEL2.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.26%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The L&g Dax Daily 2x Long Ucits Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 437.74€ and 454.64€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). L&g Dax Daily 2x Long Ucits Etf 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".
Support, Risk & Stop-loss for L&g Dax Daily 2x Long Ucits Etf ETF
L&g Dax Daily 2x Long Ucits Etf finds support from accumulated volume at 432.35€ 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 13.20€ (3.06%) between high and low. For the last week, the ETF has had daily average volatility of 1.56%.
Our recommended stop-loss: 413.55€ (-5.03%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (DEL2.F) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect L&g Dax Daily 2x Long Ucits Etf to open at 437.55€, and during the day (based on 14 day Average True Range), to move between 426.58€ and 444.32€, which gives a possible trading interval of +/-8.87€ (+/-2.04%) up or down from last closing price. If L&g Dax Daily 2x Long Ucits Etf takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 438.00€ (0.59%) than the support at 432.35€ (0.71%), 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 L&g Dax Daily 2x Long Ucits Etf ETF A Buy?
L&g Dax Daily 2x Long Ucits Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.639 Hold/Accumulate Upgraded
Predicted Opening Price for L&g Dax Daily 2x Long Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 437.55€ ( 0.482%) | 435.45€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DEL2.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 450.75 | 3.51% |
| R2 | 445.71 | 2.36% |
| R1 | 442.59 | 1.64% |
| Price | 435.45 | |
| S1 | 432.51 | -0.676% |
| S2 | 429.39 | -1.39% |
| S3 | 424.35 | -2.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 459.70 | 5.57% |
| R2 | 447.15 | 2.69% |
| R1 | 438.00 | 0.586% |
| Price | 435.45 | |
| S1 | 432.35 | -0.712% |
| S2 | 426.75 | -2.00% |
| S3 | 421.30 | -3.25% |
FAQ
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