ProShares UltraShort Bloomberg Natural ETF Forecast
ProShares UltraShort Bloomberg Natural ETF upgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The ProShares UltraShort Bloomberg Natural ETF price fell by -1.38% on the last day (Friday, 19th Apr 2024) from $73.20 to $72.19. During the last trading day the ETF fluctuated 4.53% from a day low at $70.27 to a day high of $73.45. The price has fallen in 6 of the last 10 days and is down by -51.46% for this period. Volume has increased on the last day by 399 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, 886 thousand shares were bought and sold for approximately $63.97 million.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $69.44 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -5.33% during the next 3 months and, with a 90% probability hold a price between $65.74 and $157.80 at the end of this 3-month period.
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KOLD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 2.83%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares UltraShort Bloomberg Natural ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $72.63 and $126.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ProShares UltraShort Bloomberg Natural ETF
ProShares UltraShort Bloomberg Natural finds support from accumulated volume at $72.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $3.18 between high and low, or 4.53%. For the last week, the ETF has had daily average volatility of 5.48%.
ProShares UltraShort Bloomberg Natural is oversold on RSI14 (19). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KOLD) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ProShares UltraShort Bloomberg Natural Gas (KOLD) to open at $71.97, and during the day (based on 14 day Average True Range), to move between $61.40 and $82.98, which gives a possible trading interval of +/-$10.79 (+/-14.95%) up or down from last closing price. If ProShares UltraShort Bloomberg Natural Gas (KOLD) takes out the full calculated possible swing range there will be an estimated 29.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $72.06 (0.18%) than the resistance at $73.00 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares UltraShort Bloomberg Natural Gas (KOLD) ETF A Buy?
ProShares UltraShort Bloomberg Natural holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.572 Sell Candidate Upgraded
Predicted Opening Price for ProShares UltraShort Bloomberg Natural Gas (KOLD) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $71.97 ( 0.305%) | $72.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.15 | 4.10 % | |
| R2 | 73.94 | 2.42 % | ||
| R1 | 73.18 | 1.38 % | ||
| Current price: | 72.19 | |||
| Support | S1 | 70.76 | -1.99 % | |
| S2 | 70.00 | -3.03 % | ||
| S3 | 68.79 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.76 | 4.95 % | |
| R2 | 73.20 | 1.40 % | ||
| R1 | 73.00 | 1.12 % | ||
| Current price | 72.19 | |||
| Support | S1 | 72.06 | -0.180% | |
| S2 | 72.01 | -0.256% | ||
| S3 | 70.20 | -2.76% |
FAQ
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