Xtrackers S&p 500 Inverse Daily Swap ETF Forecast
Xtrackers S&p 500 Inverse Daily Swap ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)
The Xtrackers S&p 500 Inverse Daily Swap ETF price gained 0.233% on the last trading day (Thursday, 20th Jun 2024), rising from 6.43€ to 6.44€. During the last trading day the ETF fluctuated 0.562% from a day low at 6.41€ to a day high of 6.44€. The price has risen in 6 of the last 10 days but is still down by -0.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately 505.04€ thousand.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 6.39€ is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -3.49% during the next 3 months and, with a 90% probability hold a price between 6.17€ and 6.65€ at the end of this 3-month period.
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DXS3.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.343%. Further rise is indicated until a new top pivot has been found. Xtrackers S&p 500 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 Inverse Daily Swap 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 6.46€ and 6.57€. 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).
Support, Risk & Stop-loss for Xtrackers S&p 500 Inverse Daily Swap ETF
Xtrackers S&p 500 Inverse Daily Swap finds support from accumulated volume at 6.43€ 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 0.0360€ between high and low, or 0.562%. For the last week the ETF has had daily average volatility of 0.585%.
Our recommended stop-loss: 6.04€ (-6.17%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (DXS3.F) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Xtrackers S&p 500 Inverse Daily Swap Ucits Etf to open at 6.43€, and during the day (based on 14 day Average True Range), to move between 6.37€ and 6.51€, which gives a possible trading interval of +/-0.0671€ (+/-1.04%) up or down from last closing price. If Xtrackers S&p 500 Inverse Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 6.43€ (0.23%) than the resistance at 6.50€ (0.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xtrackers S&p 500 Inverse Daily Swap Ucits Etf ETF A Buy?
Xtrackers S&p 500 Inverse Daily Swap 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: -0.556 Hold/Accumulate Upgraded
Predicted Opening Price for Xtrackers S&p 500 Inverse Daily Swap Ucits Etf of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| 6.43€ ( 0.166%) | 6.44€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DXS3.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.47 | 0.393% |
| R2 | 6.45 | 0.180% |
| R1 | 6.44 | 0.0479% |
| Price | 6.44 | |
| S1 | 6.42 | -0.379% |
| S2 | 6.41 | -0.511% |
| S3 | 6.39 | -0.725% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.73 | 4.50% |
| R2 | 6.53 | 1.40% |
| R1 | 6.50 | 0.93% |
| Price | 6.44 | |
| S1 | 6.43 | -0.233% |
| S2 | 6.42 | -0.342% |
| S3 | 0 | - |
FAQ
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