ProShares Short Dow30 ETF Forecast

Green day on Wednesday for ProShares Short Dow30
(Updated on Apr 24, 2024)

DOG Signals & Forecast

The ProShares Short Dow30 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 $29.71. On a fall, the ETF will find some support from the long-term average at approximately $29.13. 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). 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 Thursday, April 18, 2024, and so far it has fallen -1.74%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Thursday, March 14, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ProShares Short Dow30 ETF

ProShares Short Dow30 finds support from accumulated volume at $29.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.181 between high and low, or 0.617%. For the last week the ETF has had daily average volatility of 0.89%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DOG) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect ProShares Short Dow30 to open at $29.45, and during the day (based on 14 day Average True Range), to move between $29.14 and $29.72, which gives a possible trading interval of +/-$0.294 (+/-1.00%) up or down from last closing price. If ProShares Short Dow30 takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.31 (0.41%) than the resistance at $29.77 (1.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ProShares Short Dow30 ETF A Buy?

ProShares Short Dow30 holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -3.278 Sell Candidate Unchanged

Predicted Opening Price for ProShares Short Dow30 of Thursday, April 25, 2024

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