BetaPro Canadian Gold Miners 2x Daily ETF Forecast

Green day on Thursday for BetaPro Canadian Gold Miners 2x Daily
(Updated on Jun 20, 2024)

HGU.TO Signals & Forecast

There are mixed signals in the ETF today. The BetaPro Canadian Gold Miners 2x Daily 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 $17.78. On a fall, the ETF will find some support from the short-term average at $16.72. 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 Tuesday, May 21, 2024, and so far it has fallen -12.04%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

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

BetaPro Canadian Gold Miners 2x Daily finds support from accumulated volume at $16.81 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 $0.85 between high and low, or 5.04%. For the last week, the ETF has had daily average volatility of 3.58%.

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 Friday 21st

For the upcoming trading day on Friday, 21st we expect BetaPro Canadian Gold Miners 2x Daily Bull ETF to open at $17.38, and during the day (based on 14 day Average True Range), to move between $16.71 and $18.37, which gives a possible trading interval of +/-$0.83 (+/-4.73%) 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 9.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $18.03 (2.79%) than the support at $16.81 (4.16%), 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?

BetaPro Canadian Gold Miners 2x Daily holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -1.934 Sell Candidate Unchanged

Predicted Opening Price for BetaPro Canadian Gold Miners 2x Daily Bull ETF of Friday, June 21, 2024

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