ProShares Investment Grade—Intr Rate ETF Forecast

ProShares Investment Grade—Intr Rate ETF upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

IGHG Signals & Forecast

The ProShares Investment Grade—Intr Rate 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 $76.71 and $76.68. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen -0.118%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Monday, March 11, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ProShares Investment Grade—Intr Rate ETF

ProShares Investment Grade—Intr Rate finds support from accumulated volume at $76.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.115 between high and low, or 0.150%. For the last week the ETF has had daily average volatility of 0.205%

Our recommended stop-loss: $72.54 (-5.57%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (IGHG) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect ProShares Investment Grade—Interest Rate Hedged to open at $76.81, and during the day (based on 14 day Average True Range), to move between $76.58 and $77.06, which gives a possible trading interval of +/-$0.236 (+/-0.31%) up or down from last closing price. If ProShares Investment Grade—Interest Rate Hedged takes out the full calculated possible swing range there will be an estimated 0.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $76.82 (0.00%) than the support at $76.49 (0.43%), 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 ProShares Investment Grade—Interest Rate Hedged ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ProShares Investment Grade—Intr Rate ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 2.876 Buy Candidate Upgraded

Predicted Opening Price for ProShares Investment Grade—Interest Rate Hedged of Monday, May 20, 2024

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