Leverage Shares 3x Short Alphabet (goog) ETF Forecast
Stronger technical forecast for Leverage Shares 3x Short Alphabet (goog) ETF price after Thursday trading.
(Updated on Jun 27, 2024)
No changes to the price of Leverage Shares 3x Short Alphabet (goog) ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at £0.766 to a day high of £0.766. The price has risen in 5 of the last 10 days but is still down by -10.39% for this period.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -45.82% during the next 3 months and, with a 90% probability hold a price between £0.254 and £0.469 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GG3S.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. 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 Alphabet (goog) 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 £0.82 and £0.90. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leverage Shares 3x Short Alphabet (goog) ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved £0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 2.56%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GG3S.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Leverage Shares 3x Short Alphabet (goog) Etp Securities to open at £0.766, and during the day (based on 14 day Average True Range), to move between £0.732 and £0.80, which gives a possible trading interval of +/-£0.0340 (+/-4.44%) up or down from last closing price. If Leverage Shares 3x Short Alphabet (goog) Etp Securities takes out the full calculated possible swing range there will be an estimated 8.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £0.87, some £0.105 (13.66%) from the current price of £0.766, our system finds the risk reward not very attractive.
Is Leverage Shares 3x Short Alphabet (goog) Etp Securities ETF A Buy?
Leverage Shares 3x Short Alphabet (goog) 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.677 Sell Candidate Upgraded
Predicted Opening Price for Leverage Shares 3x Short Alphabet (goog) Etp Securities of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| £0.766 ( 0%) | £0.766 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GG3S.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.766 | - |
| R2 | 0.766 | - |
| R1 | 0.766 | - |
| Price | 0.766 | |
| S1 | 0.766 | - |
| S2 | 0.766 | - |
| S3 | 0.766 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.92 | 19.53% |
| R2 | 0.90 | 17.60% |
| R1 | 0.87 | 13.66% |
| Price | 0.766 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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