BetaPro S&P 500 2x Daily Bull ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
BetaPro S&P 500 2x Daily Bull ETF upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The BetaPro S&P 500 2x Daily Bull ETF price gained 1.74% on the last trading day (Tuesday, 2nd Jul 2024), rising from $22.96 to $23.36. During the last trading day the ETF fluctuated 1.92% from a day low at $22.94 to a day high of $23.38. The price has risen in 6 of the last 10 days and is up by 0.95% over the past 2 weeks. Volume fell on the last day by -59 thousand shares and in total, 139 thousand shares were bought and sold for approximately $3.25 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 strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 15.55% during the next 3 months and, with a 90% probability hold a price between $25.36 and $28.44 at the end of this 3-month period.
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HSU.TO Signals & Forecast
Mostly positive signals in the chart today. The BetaPro S&P 500 2x Daily Bull ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.10 and $22.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 21.19%. 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.
Support, Risk & Stop-loss for BetaPro S&P 500 2x Daily Bull ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $21.61 and $19.75. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, BetaPro S&P 500 2x Daily Bull finds support just below today's level at $21.61. If this is broken, then the next support from accumulated volume will be at $19.75 and $19.60.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.440 (1.92%) between high and low. For the last week, the ETF has had daily average volatility of 1.47%.
Our recommended stop-loss: $22.65 (-3.06%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (HSU.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect BetaPro S&P 500 2x Daily Bull ETF to open at $23.23, and during the day (based on 14 day Average True Range), to move between $23.01 and $23.71, which gives a possible trading interval of +/-$0.347 (+/-1.48%) up or down from last closing price. If BetaPro S&P 500 2x Daily Bull ETF takes out the full calculated possible swing range there will be an estimated 2.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $21.61, some $1.75 (7.49%) from the current price of $23.36, our system finds the risk reward attractive.
Is BetaPro S&P 500 2x Daily Bull ETF ETF A Buy?
BetaPro S&P 500 2x Daily Bull holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.016 Strong Buy Candidate Upgraded
Predicted Opening Price for BetaPro S&P 500 2x Daily Bull ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $23.23 ( 0.571%) | $23.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.67 | 1.31% |
| R2 | 23.50 | 0.593% |
| R1 | 23.39 | 0.149% |
| Price | 23.36 | |
| S1 | 23.06 | -1.29% |
| S2 | 22.95 | -1.73% |
| S3 | 22.79 | -2.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 23.36 | |
| S1 | 21.61 | -7.49% |
| S2 | 19.75 | -15.45% |
| S3 | 19.60 | -16.10% |
FAQ
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