ProShares Short MSCI EAFE 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 MSCI EAFE ETF price up 1.12% on Friday
(Updated on Jun 14, 2024)
The ProShares Short MSCI EAFE ETF price gained 1.12% on the last trading day (Friday, 14th Jun 2024), rising from $16.50 to $16.68. During the last trading day the ETF fluctuated 0.420% from a day low at $16.68 to a day high of $16.75. The price has risen in 6 of the last 10 days and is up by 2.68% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 10 thousand shares were bought and sold for approximately $158.53 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -2.06% during the next 3 months and, with a 90% probability hold a price between $15.60 and $16.62 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EFZ Signals & Forecast
The ProShares Short MSCI EAFE ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $16.35 and $16.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.93%. Further rise is indicated until a new top pivot has been found. 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. 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.
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 0.540% to $16.77 within 15 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for ProShares Short MSCI EAFE ETF
ProShares Short MSCI EAFE finds support from accumulated volume at $16.50 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 $0.0700 between high and low, or 0.420%. For the last week the ETF has had daily average volatility of 0.728%
Our recommended stop-loss: $15.82 (-5.18%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (EFZ) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect ProShares Short MSCI EAFE to open at $16.70, and during the day (based on 14 day Average True Range), to move between $16.51 and $16.85, which gives a possible trading interval of +/-$0.166 (+/-0.99%) up or down from last closing price. If ProShares Short MSCI EAFE takes out the full calculated possible swing range there will be an estimated 1.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.77 (0.54%) than the support at $16.50 (1.08%), 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 Short MSCI EAFE ETF A Buy?
ProShares Short MSCI EAFE holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.134 Hold/Accumulate Unchanged
Predicted Opening Price for ProShares Short MSCI EAFE of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $16.70 ( 0.140%) | $16.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.77 | 0.560% |
| R2 | 16.75 | 0.399% |
| R1 | 16.73 | 0.300% |
| Price | 16.68 | |
| S1 | 16.68 | -0.0204% |
| S2 | 16.66 | -0.119% |
| S3 | 16.63 | -0.280% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.20 | 3.09% |
| R2 | 16.80 | 0.716% |
| R1 | 16.77 | 0.540% |
| Price | 16.68 | |
| S1 | 16.50 | -1.08% |
| S2 | 16.34 | -2.04% |
| S3 | 16.26 | -2.52% |
EFZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.136 | 0.83% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.279 | 1.59% |
| 3 | Jan 09, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.217 | 1.14% |
| 4 | Jan 09, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.184 | 1.01% |
| 5 | Jan 09, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.118 | 0.629% |
FAQ
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