Leverage Shares 3x Short Facebook (meta) ETF Forecast
Red day on Tuesday for Leverage Shares 3x Short Facebook (meta)
(Updated on Jun 25, 2024)
The Leverage Shares 3x Short Facebook (meta) ETF price fell by -4.65% on the last day (Tuesday, 25th Jun 2024) from £19.94 to £19.01. During the last trading day the ETF fluctuated 9.83% from a day low at £18.74 to a day high of £20.58. The price has risen in 6 of the last 10 days but is still down by -4% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -604 shares and in total, 204 shares were bought and sold for approximately £3.88 thousand.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £18.60 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -7.48% during the next 3 months and, with a 90% probability hold a price between £17.21 and £28.10 at the end of this 3-month period.
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FB3S.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.229%. 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 Leverage Shares 3x Short Facebook (meta) 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 £19.79 and £22.73. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Short Facebook (meta) ETF
Leverage Shares 3x Short Facebook (meta) finds support from accumulated volume at £18.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved £1.84 between high and low, or 9.83%. For the last week the ETF has had daily average volatility of 3.81%.
Leverage Shares 3x Short Facebook (meta) is oversold on RSI14 (23). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FB3S.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Short Facebook (meta) Etp Securities to open at £19.44, and during the day (based on 14 day Average True Range), to move between £17.86 and £20.16, which gives a possible trading interval of +/-£1.15 (+/-6.03%) up or down from last closing price. If Leverage Shares 3x Short Facebook (meta) Etp Securities takes out the full calculated possible swing range there will be an estimated 12.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £18.96 (0.23%) than the resistance at £19.38 (1.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 3x Short Facebook (meta) Etp Securities ETF A Buy?
Leverage Shares 3x Short Facebook (meta) holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.323 Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Short Facebook (meta) Etp Securities of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
£19.44 ( 2.29%) | £19.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FB3S.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.29 | 11.98% |
R2 | 20.58 | 8.28% |
R1 | 20.15 | 6.00% |
Price | 19.01 | |
S1 | 18.74 | -1.41% |
S2 | 18.31 | -3.70% |
S3 | 17.60 | -7.40% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.81 | 14.74% |
R2 | 20.83 | 9.59% |
R1 | 19.38 | 1.96% |
Price | 19.01 | |
S1 | 18.96 | -0.229% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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