PROSHARES ULTRASHORT MSCI JAPAN ETF Forecast

Red day on Friday for PROSHARES ULTRASHORT MSCI JAPAN
(Updated on Jun 28, 2024)

EWV 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 ULTRASHORT MSCI JAPAN 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 $11.15 and $10.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -7.26%. Further fall is indicated until a new bottom pivot has been found. PROSHARES ULTRASHORT MSCI JAPAN 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". The ETF had a Golden Star Signal on Thursday, April 11, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for PROSHARES ULTRASHORT MSCI JAPAN ETF

PROSHARES ULTRASHORT MSCI JAPAN finds support from accumulated volume at $10.51 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 $0.289 between high and low, or 2.77%. For the last week, the ETF has had daily average volatility of 2.06%.

Our recommended stop-loss: $10.37 (-3.44%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (EWV) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect PROSHARES ULTRASHORT MSCI JAPAN PROSHARES ULTRASHORT MSCI JAPAN to open at $10.64, and during the day (based on 14 day Average True Range), to move between $10.46 and $11.02, which gives a possible trading interval of +/-$0.279 (+/-2.60%) up or down from last closing price. If PROSHARES ULTRASHORT MSCI JAPAN PROSHARES ULTRASHORT MSCI JAPAN takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.51 (2.13%) than the resistance at $11.18 (4.10%), 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 ULTRASHORT MSCI JAPAN PROSHARES ULTRASHORT MSCI JAPAN ETF A Buy?

PROSHARES ULTRASHORT MSCI JAPAN 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: 0.761 Hold/Accumulate Unchanged

Predicted Opening Price for PROSHARES ULTRASHORT MSCI JAPAN PROSHARES ULTRASHORT MSCI JAPAN of Monday, July 1, 2024

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