ProShares Short Dow30 ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
ProShares Short Dow30 ETF price ended at $29.33 on Friday, after losing 1.18%.
(Updated on May 03, 2024)
The ProShares Short Dow30 ETF price fell by -1.18% on the last day (Friday, 3rd May 2024) from $29.68 to $29.33. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.761% from a day low at $29.24 to a day high of $29.46. The price has fallen in 7 of the last 10 days and is down by -1.48% for this period. Volume has increased on the last day by 422 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, 2 million shares were bought and sold for approximately $64.93 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProShares Short Dow30 ETF with a 90% probability to be traded between $28.92 and $30.46 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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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 $29.68. On a fall, the ETF will find some support from the long-term average at approximately $29.23. 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. 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 Tuesday, April 30, 2024, and so far it has fallen -2.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. 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.
Golden Star
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 $0.222 between high and low, or 0.761%. For the last week the ETF has had daily average volatility of 1.00%.
Our recommended stop-loss: $28.16 (-3.99%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (DOG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ProShares Short Dow30 to open at $29.34, and during the day (based on 14 day Average True Range), to move between $29.01 and $29.65, which gives a possible trading interval of +/-$0.324 (+/-1.10%) up or down from last closing price. If ProShares Short Dow30 takes out the full calculated possible swing range there will be an estimated 2.21% 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 (0.07%) than the resistance at $29.37 (0.14%), 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 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.
Current score: -0.722 Hold/Accumulate Unchanged
Predicted Opening Price for ProShares Short Dow30 of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $29.34 ( 0.0482%) | $29.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.57 | 0.81 % | |
| R2 | 29.48 | 0.517 % | ||
| R1 | 29.43 | 0.338 % | ||
| Current price: | 29.33 | |||
| Support | S1 | 29.26 | -0.241 % | |
| S2 | 29.21 | -0.420 % | ||
| S3 | 29.12 | -0.710 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.95 | 2.11 % | |
| R2 | 29.77 | 1.50 % | ||
| R1 | 29.37 | 0.136 % | ||
| Current price | 29.33 | |||
| Support | S1 | 29.31 | -0.0682% | |
| S2 | 29.21 | -0.409% | ||
| S3 | 29.16 | -0.580% |
DOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.316 | 1.11% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.409 | 1.36% |
| 3 | Jan 09, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.395 | 1.19% |
| 4 | Jan 09, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.347 | 1.06% |
| 5 | Jan 09, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.198 | 0.585% |
FAQ
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