L&g Dax Daily 2x Long Ucits Etf ETF Forecast
Stronger technical forecast for L&g Dax Daily 2x Long Ucits Etf ETF price after Monday trading.
(Updated on Jun 24, 2024)
The L&g Dax Daily 2x Long Ucits Etf ETF price gained 0.86% on the last trading day (Monday, 24th Jun 2024), rising from £37,050.00 to £37,370.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.0328% from a day low at £37,370.00 to a day high of £37,382.24. The price has risen in 6 of the last 10 days but is still down by -4.66% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 more shares were traded than the day before. In total, 165 shares were bought and sold for approximately £6.17 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 L&g Dax Daily 2x Long Ucits Etf ETF with a 90% probability to be traded between £36,713.84 and £41,355.47 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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DL2P.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.92%. Further rise is indicated until a new top pivot has been found. 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. The L&g Dax Daily 2x Long Ucits Etf 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 £38,588.39. On a fall, the ETF will find some support from the short-term average at £37,071.22. 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 L&g Dax Daily 2x Long Ucits Etf ETF
L&g Dax Daily 2x Long Ucits Etf finds support from accumulated volume at £37,020.00 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 £12.24 between high and low, or 0.0328%. For the last week, the ETF has had daily average volatility of 0.266%.
Our recommended stop-loss: £35,147.86 (-5.95%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (DL2P.L) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect L&g Dax Daily 2x Long Ucits Etf to open at £37,374.08, and during the day (based on 14 day Average True Range), to move between £36,781.63 and £37,958.37, which gives a possible trading interval of +/-£588.37 (+/-1.57%) 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 3.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £37,532.50 (0.43%) than the support at £37,020.00 (0.94%), 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?
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 L&g Dax Daily 2x Long Ucits Etf ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.600 Buy Candidate Upgraded
Predicted Opening Price for L&g Dax Daily 2x Long Ucits Etf of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| £37,374.08 ( 0.0109%) | £37,370.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DL2P.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37,386.32 | 0.0437% |
| R2 | 37,381.64 | 0.0312% |
| R1 | 37,378.76 | 0.0234% |
| Price | 37,370.00 | |
| S1 | 37,369.40 | -0.0016% |
| S2 | 37,366.52 | -0.0093% |
| S3 | 37,361.84 | -0.0218% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38,595.00 | 3.28% |
| R2 | 37,735.00 | 0.98% |
| R1 | 37,532.50 | 0.435% |
| Price | 37,370.00 | |
| S1 | 37,020.00 | -0.94% |
| S2 | 36,670.00 | -1.87% |
| S3 | 36,175.00 | -3.20% |
FAQ
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