BetaPro Natural Gas Inverse Leveraged ETF Forecast
Volatile ride for BetaPro Natural Gas Inverse Leveraged ETF price on Friday moving between $88.47 and $100.21
(Updated on May 03, 2024)
The BetaPro Natural Gas Inverse Leveraged ETF price fell by -10.87% on the last day (Friday, 3rd May 2024) from $100.70 to $89.75. During the last trading day the ETF fluctuated 13.27% from a day low at $88.47 to a day high of $100.21. The price has fallen in 6 of the last 10 days and is down by -17.65% for this period. Volume has increased on the last day by 80 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 384 thousand shares were bought and sold for approximately $34.49 million.
The ETF is at the lower part of a very 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 $86.07 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BetaPro Natural Gas Inverse Leveraged ETF with a 90% probability to be traded between $87.57 and $135.23 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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HND.TO Signals & Forecast
There are few to no technical positive signals at the moment. The BetaPro Natural Gas Inverse Leveraged 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 $105.25 and $107.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -25.87%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for BetaPro Natural Gas Inverse Leveraged ETF
BetaPro Natural Gas Inverse Leveraged finds support from accumulated volume at $86.85 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 $11.74 between high and low, or 13.27%. For the last week, the ETF has had daily average volatility of 9.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HND.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BetaPro Natural Gas Inverse Leveraged Daily Bear ETF to open at $92.81, and during the day (based on 14 day Average True Range), to move between $80.72 and $98.78, which gives a possible trading interval of +/-$9.03 (+/-10.06%) up or down from last closing price. If BetaPro Natural Gas Inverse Leveraged Daily Bear ETF takes out the full calculated possible swing range there will be an estimated 20.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $86.85 (3.23%) than the resistance at $93.19 (3.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BetaPro Natural Gas Inverse Leveraged Daily Bear ETF ETF A Buy?
BetaPro Natural Gas Inverse Leveraged 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.533 Sell Candidate Downgraded
Predicted Opening Price for BetaPro Natural Gas Inverse Leveraged Daily Bear ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $92.81 ( 3.41%) | $89.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HND.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.55 | 16.49 % | |
| R2 | 100.07 | 11.49 % | ||
| R1 | 97.29 | 8.41 % | ||
| Current price: | 89.75 | |||
| Support | S1 | 88.33 | -1.59 % | |
| S2 | 85.55 | -4.67 % | ||
| S3 | 81.07 | -9.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.82 | 12.33 % | |
| R2 | 95.55 | 6.46 % | ||
| R1 | 93.19 | 3.83 % | ||
| Current price | 89.75 | |||
| Support | S1 | 86.85 | -3.23% | |
| S2 | 86.84 | -3.24% | ||
| S3 | 84.52 | -5.83% |
FAQ
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