Proshares Trust ETF Forecast
Red day on Friday for Proshares Trust ETF after losing 2.29%
(Updated on Jun 28, 2024)
The Proshares Trust ETF price fell by -2.29% on the last day (Friday, 28th Jun 2024) from $72.17 to $70.52. During the last trading day the ETF fluctuated 3.57% from a day low at $70.24 to a day high of $72.75. The price has fallen in 6 of the last 10 days and is down by -3.44% for this period. Volume has increased on the last day by 20 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, 131 thousand shares were bought and sold for approximately $9.26 million.
The ETF lies in the middle of a very 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 5.28% during the next 3 months and, with a 90% probability hold a price between $68.23 and $89.05 at the end of this 3-month period.
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EETH Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 2.28%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Proshares Trust 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 $71.83 and $74.19. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Proshares Trust ETF
Proshares Trust finds support from accumulated volume at $68.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $2.51 between high and low, or 3.57%. For the last week, the ETF has had daily average volatility of 2.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EETH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Proshares Trust to open at $71.17, and during the day (based on 14 day Average True Range), to move between $67.56 and $73.48, which gives a possible trading interval of +/-$2.96 (+/-4.20%) up or down from last closing price. If Proshares Trust takes out the full calculated possible swing range there will be an estimated 8.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.95 (2.23%) than the resistance at $74.87 (6.17%), 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 Trust ETF A Buy?
The Proshares Trust ETF holds several negative signals and despite the positive trend, we believe Proshares Trust will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.330 Sell Candidate Unchanged
Predicted Opening Price for Proshares Trust of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $71.17 ( 0.92%) | $70.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EETH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.68 | 4.48% |
| R2 | 72.72 | 3.12% |
| R1 | 72.13 | 2.28% |
| Price | 70.52 | |
| S1 | 70.21 | -0.438% |
| S2 | 69.62 | -1.28% |
| S3 | 68.66 | -2.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 82.16 | 16.51% |
| R2 | 80.66 | 14.38% |
| R1 | 74.87 | 6.17% |
| Price | 70.52 | |
| S1 | 68.95 | -2.23% |
| S2 | 68.39 | -3.02% |
| S3 | 67.63 | -4.10% |
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