BetaPro NASDAQ-100 2x Daily Bull ETF Forecast
BetaPro NASDAQ-100 2x Daily Bull ETF upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The BetaPro NASDAQ-100 2x Daily Bull ETF price gained 3.82% on the last trading day (Friday, 3rd May 2024), rising from $17.78 to $18.46. During the last trading day the ETF fluctuated 1.48% from a day low at $18.27 to a day high of $18.54. The price has risen in 7 of the last 10 days and is up by 9.69% over the past 2 weeks. Volume fell on the last day by -846 thousand shares and in total, 499 thousand shares were bought and sold for approximately $9.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -4.44% during the next 3 months and, with a 90% probability hold a price between $15.94 and $18.42 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HQU.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 6.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BetaPro NASDAQ-100 2x Daily Bull 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 $18.60. On a fall, the ETF will find some support from the short-term average at $17.90. 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.
Support, Risk & Stop-loss for BetaPro NASDAQ-100 2x Daily Bull ETF
BetaPro NASDAQ-100 2x Daily Bull finds support from accumulated volume at $18.31 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 $0.270 between high and low, or 1.48%. For the last week, the ETF has had daily average volatility of 2.98%.
Our recommended stop-loss: $17.82 (-3.46%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (HQU.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BetaPro NASDAQ-100 2x Daily Bull ETF to open at $18.42, and during the day (based on 14 day Average True Range), to move between $17.86 and $19.06, which gives a possible trading interval of +/-$0.598 (+/-3.24%) up or down from last closing price. If BetaPro NASDAQ-100 2x Daily Bull ETF takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.31 (0.81%) than the resistance at $18.66 (1.08%), 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 NASDAQ-100 2x Daily Bull ETF ETF A Buy?
BetaPro NASDAQ-100 2x Daily Bull 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: -0.829 Hold/Accumulate Upgraded
Predicted Opening Price for BetaPro NASDAQ-100 2x Daily Bull ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $18.42 ( 0.199%) | $18.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HQU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.69 | 1.26 % | |
| R2 | 18.59 | 0.705 % | ||
| R1 | 18.53 | 0.360 % | ||
| Current price: | 18.46 | |||
| Support | S1 | 18.32 | -0.757 % | |
| S2 | 18.26 | -1.10 % | ||
| S3 | 18.15 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.46 | 5.42 % | |
| R2 | 19.07 | 3.30 % | ||
| R1 | 18.66 | 1.08 % | ||
| Current price | 18.46 | |||
| Support | S1 | 18.31 | -0.81% | |
| S2 | 18.21 | -1.35% | ||
| S3 | 17.78 | -3.68% |
FAQ
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