PROSHARES ULTRA MSCI EMERGING MARKETS ETF Forecast
PROSHARES ULTRA MSCI EMERGING MARKETS ETF downgraded to Strong Sell Candidate
(Updated on Jun 25, 2024)
The PROSHARES ULTRA MSCI EMERGING MARKETS ETF price fell by -0.98% on the last day (Tuesday, 25th Jun 2024) from $55.14 to $54.60. During the last trading day the ETF fluctuated 0.239% from a day low at $54.50 to a day high of $54.63. The price has been going up and down for this period, and there has been a 2.54% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -41 thousand shares and in total, 1 thousand shares were bought and sold for approximately $60.99 thousand.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.99% during the next 3 months and, with a 90% probability hold a price between $55.95 and $65.14 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EET Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The PROSHARES ULTRA MSCI EMERGING MARKETS ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $54.91 and $54.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -5.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PROSHARES ULTRA MSCI EMERGING MARKETS ETF
PROSHARES ULTRA MSCI EMERGING MARKETS finds support from accumulated volume at $54.35 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.130 between high and low, or 0.239%. For the last week the ETF has had daily average volatility of 0.393%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EET) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS to open at $54.58, and during the day (based on 14 day Average True Range), to move between $53.86 and $55.34, which gives a possible trading interval of +/-$0.742 (+/-1.36%) up or down from last closing price. If PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.35 (0.46%) than the resistance at $55.14 (0.99%), 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 ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS ETF A Buy?
The PROSHARES ULTRA MSCI EMERGING MARKETS ETF holds several negative signals and despite the positive trend, we believe PROSHARES ULTRA MSCI EMERGING MARKETS will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.569 Strong Sell Candidate Downgraded
Predicted Opening Price for PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$54.58 ( 0.0452%) | $54.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EET
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 54.71 | 0.193% |
R2 | 54.66 | 0.102% |
R1 | 54.63 | 0.0458% |
Price | 54.60 | |
S1 | 54.53 | -0.136% |
S2 | 54.50 | -0.192% |
S3 | 54.45 | -0.283% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 55.54 | 1.72% |
R2 | 55.19 | 1.08% |
R1 | 55.14 | 0.99% |
Price | 54.60 | |
S1 | 54.35 | -0.461% |
S2 | 53.25 | -2.48% |
S3 | 48.62 | -10.96% |
EET Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.310 | 0.608% |
2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.365 | 0.768% |
3 | Jan 09, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.335 | 0.749% |
4 | Jan 09, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.287 | 0.570% |
5 | Jan 09, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.103 | 0.205% |
FAQ
Click here for our free guide on how to buy PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS ETF.