MicroSectors Gold Miners 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 Gold Miners 3X Leveraged ETF price up 2.31% on Monday
(Updated on May 20, 2024)
The MicroSectors Gold Miners 3X Leveraged ETF price gained 2.31% on the last trading day (Monday, 20th May 2024), rising from $46.70 to $47.78. During the last trading day the ETF fluctuated 8.12% from a day low at $45.20 to a day high of $48.87. The price has been going up and down for this period, and there has been a 29.2% gain for the last 2 weeks. Volume fell on the last day by -202 thousand shares and in total, 671 thousand shares were bought and sold for approximately $32.07 million. 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 very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 89.98% during the next 3 months and, with a 90% probability hold a price between $74.31 and $95.60 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GDXU Signals & Forecast
Mostly positive signals in the chart today. The MicroSectors Gold Miners 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 $42.82 and $37.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 41.65%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for MicroSectors Gold Miners 3X Leveraged ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $37.52 and $36.54. 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 Gold Miners 3X Leveraged finds support just below today's level at $37.52. If this is broken, then the next support from accumulated volume will be at $36.54 and $36.45.
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 $3.67 between high and low, or 8.12%. For the last week, the ETF has had daily average volatility of 6.72%.
Our recommended stop-loss: $46.43 (-2.82%) (This ETF has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (GDXU) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect MicroSectors Gold Miners 3X Leveraged ETNs to open at $47.28, and during the day (based on 14 day Average True Range), to move between $44.70 and $50.86, which gives a possible trading interval of +/-$3.08 (+/-6.46%) up or down from last closing price. If MicroSectors Gold Miners 3X Leveraged ETNs takes out the full calculated possible swing range there will be an estimated 12.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $37.52, some $10.26 (21.47%) from the current price of $47.78, our system finds the risk reward attractive.
Is MicroSectors Gold Miners 3X Leveraged ETNs ETF A Buy?
MicroSectors Gold Miners 3X Leveraged holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.693 Strong Buy Candidate Unchanged
Predicted Opening Price for MicroSectors Gold Miners 3X Leveraged ETNs of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$47.28 ( 1.04%) | $47.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDXU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.95 | 6.64 % | |
R2 | 49.55 | 3.71 % | ||
R1 | 48.69 | 1.89 % | ||
Current price: | 47.78 | |||
Support | S1 | 45.88 | -3.97 % | |
S2 | 45.02 | -5.79 % | ||
S3 | 43.61 | -8.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 47.78 | |||
Support | S1 | 37.52 | -21.47% | |
S2 | 36.54 | -23.52% | ||
S3 | 36.45 | -23.71% |
FAQ
Click here for our free guide on how to buy MicroSectors Gold Miners 3X Leveraged ETNs ETF.