Leverage Shares 3x Long Gold Etp ETF Forecast
Leverage Shares 3x Long Gold Etp ETF price down 0.87% on Tuesday
(Updated on Jun 25, 2024)
The Leverage Shares 3x Long Gold Etp ETF price fell by -0.87% on the last day (Tuesday, 25th Jun 2024) from £13.30 to £13.19. During the last trading day the ETF fluctuated 4.46% from a day low at £13.19 to a day high of £13.77. The price has been going up and down for this period, and there has been a 1.79% gain for the last 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 -165 shares and in total, 1 shares were bought and sold for approximately £13.19 .
The ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £12.69 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Leverage Shares 3x Long Gold Etp ETF with a 90% probability to be traded between £12.67 and £15.48 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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GLD3.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 3.88%. 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 Long Gold Etp 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 £13.32 and £13.86. 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 Long Gold Etp ETF
Leverage Shares 3x Long Gold Etp finds support from accumulated volume at £12.95 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved £0.588 between high and low, or 4.46%. For the last week the ETF has had daily average volatility of 3.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLD3.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Long Gold Etp Securities to open at £13.38, and during the day (based on 14 day Average True Range), to move between £12.54 and £13.83, which gives a possible trading interval of +/-£0.643 (+/-4.88%) up or down from last closing price. If Leverage Shares 3x Long Gold Etp Securities takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £12.95 (1.76%) than the resistance at £13.81 (4.74%), 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 Long Gold Etp Securities ETF A Buy?
Leverage Shares 3x Long Gold Etp holds several negative signals and is within a 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: -2.683 Sell Candidate Unchanged
Predicted Opening Price for Leverage Shares 3x Long Gold Etp Securities of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £13.38 ( 1.49%) | £13.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLD3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.97 | 5.95% |
| R2 | 13.74 | 4.24% |
| R1 | 13.61 | 3.19% |
| Price | 13.19 | |
| S1 | 13.16 | -0.217% |
| S2 | 13.02 | -1.27% |
| S3 | 12.79 | -2.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.13 | 14.75% |
| R2 | 14.75 | 11.87% |
| R1 | 13.81 | 4.74% |
| Price | 13.19 | |
| S1 | 12.95 | -1.76% |
| S2 | 12.69 | -3.73% |
| S3 | 11.82 | -10.35% |
FAQ
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