ProShares Merger ETF Forecast

Stronger technical forecast for ProShares Merger ETF price after Friday trading.
(Updated on May 17, 2024)

MRGR Signals & Forecast

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. The ProShares Merger 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 $39.97 and $40.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -1.79%. Further fall is indicated until a new bottom pivot has been found. ProShares Merger gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Friday, June 02, 2023 in the long-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 Merger ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0949%.

Our recommended stop-loss: $37.18 (-6.62%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)

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

For the upcoming trading day on Monday, 20th we expect ProShares Merger ETF to open at $39.82, and during the day (based on 14 day Average True Range), to move between $39.72 and $39.92, which gives a possible trading interval of +/-$0.0987 (+/-0.25%) up or down from last closing price. If ProShares Merger ETF takes out the full calculated possible swing range there will be an estimated 0.50% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $40.07, some $0.250 (0.63%) from the current price of $39.82, our system finds the risk reward not very attractive.

Is ProShares Merger ETF ETF A Buy?

ProShares Merger holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for ProShares Merger ETF of Monday, May 20, 2024

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