PROSHARES HEDGE REPLICATION PROSHARES ETF Forecast

PROSHARES HEDGE REPLICATION PROSHARES ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)

HDG Signals & Forecast

There are mixed signals in the ETF today. The PROSHARES HEDGE REPLICATION PROSHARES ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $49.34. On a fall, the ETF will find some support from the short-term average at $49.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). PROSHARES HEDGE REPLICATION PROSHARES has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for PROSHARES HEDGE REPLICATION PROSHARES ETF

PROSHARES HEDGE REPLICATION PROSHARES finds support from accumulated volume at $48.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0483 between high and low, or 0.0983%. For the last week the ETF has had daily average volatility of 0.0895%.

Our recommended stop-loss: $46.85 (-4.65%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (HDG) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect PROSHARES HEDGE REPLICATION ETF PROSHARES HEDGE REPLICATION ETF to open at $49.16, and during the day (based on 14 day Average True Range), to move between $49.01 and $49.27, which gives a possible trading interval of +/-$0.131 (+/-0.27%) up or down from last closing price. If PROSHARES HEDGE REPLICATION ETF PROSHARES HEDGE REPLICATION ETF takes out the full calculated possible swing range there will be an estimated 0.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $49.20 (0.12%) than the support at $48.90 (0.49%), 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 PROSHARES HEDGE REPLICATION ETF PROSHARES HEDGE REPLICATION ETF ETF A Buy?

PROSHARES HEDGE REPLICATION PROSHARES holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PROSHARES HEDGE REPLICATION ETF PROSHARES HEDGE REPLICATION ETF of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.