PROSHARES ULTRA MSCI EMERGING MARKETS ETF Forecast
PROSHARES ULTRA MSCI EMERGING MARKETS ETF upgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The PROSHARES ULTRA MSCI EMERGING MARKETS ETF price gained 0.338% on the last trading day (Friday, 28th Jun 2024), rising from $54.04 to $54.22. During the last trading day the ETF fluctuated 0.85% from a day low at $54.22 to a day high of $54.68. The price has risen in 6 of the last 10 days and is up by 0.62% over the past 2 weeks. Volume fell on the last day by -263 shares and in total, 3 thousand shares were bought and sold for approximately $148.13 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 8.26% during the next 3 months and, with a 90% probability hold a price between $55.54 and $64.79 at the end of this 3-month period.
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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. 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 $54.67 and $54.71. 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 -6.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for PROSHARES ULTRA MSCI EMERGING MARKETS ETF
PROSHARES ULTRA MSCI EMERGING MARKETS finds support from accumulated volume at $53.91 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 $0.460 between high and low, or 0.85%. For the last week the ETF has had daily average volatility of 0.607%
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS to open at $54.37, and during the day (based on 14 day Average True Range), to move between $53.50 and $54.94, which gives a possible trading interval of +/-$0.720 (+/-1.33%) 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 2.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.35 (0.24%) than the support at $53.91 (0.57%), 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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.084 Sell Candidate Upgraded
Predicted Opening Price for PROSHARES ULTRA MSCI EMERGING MARKETS PROSHARES ULTRA MSCI EMERGING MARKETS of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $54.37 ( 0.283%) | $54.22 |
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 | 54.83 | 1.13% |
| R2 | 54.66 | 0.81% |
| R1 | 54.55 | 0.607% |
| Price | 54.22 | |
| S1 | 54.20 | -0.0413% |
| S2 | 54.09 | -0.241% |
| S3 | 53.91 | -0.565% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.54 | 2.43% |
| R2 | 55.19 | 1.79% |
| R1 | 54.35 | 0.240% |
| Price | 54.22 | |
| S1 | 53.91 | -0.572% |
| S2 | 53.25 | -1.79% |
| S3 | 48.62 | -10.33% |
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
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