ProShares Decline of the Retail Store ETF Forecast

ProShares Decline of the Retail Store ETF price down 2.48% on Friday
(Updated on May 03, 2024)

EMTY Signals & Forecast

The ProShares Decline of the Retail Store ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $14.84. On a fall, the ETF will find some support from the long-term average at approximately $14.28. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -3.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ProShares Decline of the Retail Store gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for ProShares Decline of the Retail Store ETF

ProShares Decline of the Retail Store finds support from accumulated volume at $14.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.160 (1.10%) between high and low. For the last week, the ETF has had daily average volatility of 1.12%.

Our recommended stop-loss: $13.88 (-4.61%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (EMTY) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect ProShares Decline of the Retail Store ETF to open at $14.60, and during the day (based on 14 day Average True Range), to move between $14.35 and $14.75, which gives a possible trading interval of +/-$0.200 (+/-1.37%) up or down from last closing price. If ProShares Decline of the Retail Store ETF takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.62 (0.48%) than the support at $14.06 (3.39%), 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 Decline of the Retail Store ETF ETF A Buy?

ProShares Decline of the Retail Store 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.

Current score: -0.694 Hold/Accumulate Unchanged

Predicted Opening Price for ProShares Decline of the Retail Store ETF of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.