BetaPro Canadian Gold Miners 2x Daily ETF Forecast

BetaPro Canadian Gold Miners 2x Daily ETF price up 0.430% on Friday
(Updated on Jun 14, 2024)

HGU.TO Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BetaPro Canadian Gold Miners 2x Daily 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 $17.05 and $17.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -17.95%. 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).

Support, Risk & Stop-loss for BetaPro Canadian Gold Miners 2x Daily ETF

BetaPro Canadian Gold Miners 2x Daily finds support from accumulated volume at $16.13 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.650 between high and low, or 4.01%. For the last week, the ETF has had daily average volatility of 4.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HGU.TO) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect BetaPro Canadian Gold Miners 2x Daily Bull ETF to open at $16.46, and during the day (based on 14 day Average True Range), to move between $15.45 and $17.27, which gives a possible trading interval of +/-$0.91 (+/-5.56%) up or down from last closing price. If BetaPro Canadian Gold Miners 2x Daily Bull ETF takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.44 (0.49%) than the support at $16.13 (1.41%), 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 BetaPro Canadian Gold Miners 2x Daily Bull ETF ETF A Buy?

The BetaPro Canadian Gold Miners 2x Daily ETF holds several negative signals and despite the positive trend, we believe BetaPro Canadian Gold Miners 2x Daily will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -3.283 Sell Candidate Unchanged

Predicted Opening Price for BetaPro Canadian Gold Miners 2x Daily Bull ETF of Monday, June 17, 2024

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