MicroSectors FANG+ Index 3X Leveraged 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
MicroSectors FANG+ Index 3X Leveraged ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The MicroSectors FANG+ Index 3X Leveraged ETF price fell by -0.244% on the last day (Friday, 17th May 2024) from $352.91 to $352.05. During the last trading day the ETF fluctuated 2.70% from a day low at $346.63 to a day high of $355.99. The price has fallen in 6 of the last 10 days but is still up by 10.17% over the past 2 weeks. 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 -99 thousand shares and in total, 443 thousand shares were bought and sold for approximately $155.86 million.
The ETFis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $357.43 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect MicroSectors FANG+ Index 3X Leveraged ETF with a 90% probability to be traded between $255.85 and $355.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FNGU Signals & Forecast
The MicroSectors FANG+ Index 3X Leveraged ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $342.47 and $317.22. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for MicroSectors FANG+ Index 3X Leveraged ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $311.47 and $287.67. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, MicroSectors FANG+ Index 3X Leveraged finds support just below today's level at $311.47. If this is broken, then the next support from accumulated volume will be at $287.67 and $281.50.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $9.36 between high and low, or 2.70%. For the last week, the ETF has had daily average volatility of 3.60%.
Our recommended stop-loss: $337.16 (-4.23%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (FNGU) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MicroSectors FANG+ Index 3X Leveraged ETN to open at $351.56, and during the day (based on 14 day Average True Range), to move between $335.92 and $368.18, which gives a possible trading interval of +/-$16.13 (+/-4.58%) up or down from last closing price. If MicroSectors FANG+ Index 3X Leveraged ETN takes out the full calculated possible swing range there will be an estimated 9.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $352.69 (0.18%) than the support at $311.47 (11.53%), 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 MicroSectors FANG+ Index 3X Leveraged ETN ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for MicroSectors FANG+ Index 3X Leveraged ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.874 Buy Candidate Upgraded
Predicted Opening Price for MicroSectors FANG+ Index 3X Leveraged ETN of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $351.56 ( 0.140%) | $352.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNGU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 360.92 | 2.52 % | |
| R2 | 357.34 | 1.50 % | ||
| R1 | 355.13 | 0.88 % | ||
| Current price: | 352.05 | |||
| Support | S1 | 347.98 | -1.16 % | |
| S2 | 345.77 | -1.78 % | ||
| S3 | 342.20 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 357.50 | 1.55 % | |
| R2 | 352.91 | 0.244 % | ||
| R1 | 352.69 | 0.182 % | ||
| Current price | 352.05 | |||
| Support | S1 | 311.47 | -11.53% | |
| S2 | 287.67 | -18.29% | ||
| S3 | 281.50 | -20.04% |
FAQ
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