BetaPro S&P 500 -2x Daily Bear ETF Forecast

Red day on Friday for BetaPro S&P 500 -2x Daily Bear
(Updated on May 03, 2024)

HSD.TO Signals & Forecast

The BetaPro S&P 500 -2x Daily Bear ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $20.42. On a fall, the ETF will find some support from the long-term average at approximately $19.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -5.93%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for BetaPro S&P 500 -2x Daily Bear ETF

BetaPro S&P 500 -2x Daily Bear finds support from accumulated volume at $19.94 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 $0.300 between high and low, or 1.51%. For the last week, the ETF has had daily average volatility of 2.26%.

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

Trading Expectations (HSD.TO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect BetaPro S&P 500 -2x Daily Bear ETF to open at $20.03, and during the day (based on 14 day Average True Range), to move between $19.50 and $20.48, which gives a possible trading interval of +/-$0.489 (+/-2.44%) up or down from last closing price. If BetaPro S&P 500 -2x Daily Bear ETF takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $19.94 (0.25%) than the resistance at $20.40 (2.05%), 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 S&P 500 -2x Daily Bear ETF ETF A Buy?

BetaPro S&P 500 -2x Daily Bear 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: -1.656 Sell Candidate Unchanged

Predicted Opening Price for BetaPro S&P 500 -2x Daily Bear ETF of Monday, May 6, 2024

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