BetaPro Silver 2x Daily Bull ETF Forecast
Red day on Friday for BetaPro Silver 2x Daily Bull
(Updated on May 31, 2024)
The BetaPro Silver 2x Daily Bull ETF price fell by -4.59% on the last day (Friday, 31st May 2024) from $31.57 to $30.12. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 8.90% from a day low at $29.78 to a day high of $32.43. The price has been going up and down for this period, and there has been a 3.86% gain for the last 2 weeks. Volume has increased on the last day by 59 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, 136 thousand shares were bought and sold for approximately $4.09 million.
The ETF lies in the middle of a very 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 49.55% during the next 3 months and, with a 90% probability hold a price between $40.29 and $52.89 at the end of this 3-month period.
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HZU.TO Signals & Forecast
The BetaPro Silver 2x Daily Bull 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 $31.67. On a fall, the ETF will find some support from the long-term average at approximately $27.55. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 21, 2024, and so far it has fallen -11.02%. Further fall is indicated until a new bottom pivot has been found. 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 Silver 2x Daily Bull ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $26.47 and $25.29. 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 Silver 2x Daily Bull finds support just below today's level at $26.47. If this is broken, then the next support from accumulated volume will be at $25.29 and $24.75.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $2.65 between high and low, or 8.90%. For the last week, the ETF has had daily average volatility of 5.20%.
Our recommended stop-loss: $29.14 (-3.24%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (HZU.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect BetaPro Silver 2x Daily Bull ETF to open at $30.78, and during the day (based on 14 day Average True Range), to move between $28.53 and $31.71, which gives a possible trading interval of +/-$1.59 (+/-5.28%) up or down from last closing price. If BetaPro Silver 2x Daily Bull ETF takes out the full calculated possible swing range there will be an estimated 10.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.37 (4.15%) than the support at $26.47 (12.12%), 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 Silver 2x Daily Bull ETF ETF A Buy?
BetaPro Silver 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.
Current score: -0.064 Hold/Accumulate Unchanged
Predicted Opening Price for BetaPro Silver 2x Daily Bull ETF of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$30.78 ( 2.18%) | $30.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HZU.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.43 | 10.98 % | |
R2 | 32.41 | 7.62 % | ||
R1 | 31.79 | 5.54 % | ||
Current price: | 30.12 | |||
Support | S1 | 29.76 | -1.18 % | |
S2 | 29.14 | -3.26 % | ||
S3 | 28.13 | -6.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.60 | 11.55 % | |
R2 | 32.81 | 8.93 % | ||
R1 | 31.37 | 4.15 % | ||
Current price | 30.12 | |||
Support | S1 | 26.47 | -12.12% | |
S2 | 25.29 | -16.04% | ||
S3 | 24.75 | -17.83% |
FAQ
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