Graniteshares 2x Long Msft Daily Etf ETF Forecast
Graniteshares 2x Long Msft Daily Etf ETF price ended at $27.79 on Tuesday, after losing 1.00%.
(Updated on Jun 18, 2024)
The Graniteshares 2x Long Msft Daily Etf ETF price fell by -1.00% on the last day (Tuesday, 18th Jun 2024) from $28.07 to $27.79. During the last trading day the ETF fluctuated 2.13% from a day low at $27.73 to a day high of $28.32. The price has risen in 7 of the last 10 days and is up by 14.32% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -66 thousand shares and in total, 34 thousand shares were bought and sold for approximately $933.52 thousand.
The ETF lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $28.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 2.66% during the next 3 months and, with a 90% probability hold a price between $22.45 and $28.83 at the end of this 3-month period.
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MSFL Signals & Forecast
The Graniteshares 2x Long Msft Daily Etf 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 $27.07 and $25.03. 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, June 17, 2024, and so far it has fallen -1.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Graniteshares 2x Long Msft Daily Etf ETF
Graniteshares 2x Long Msft Daily Etf finds support from accumulated volume at $27.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.590 between high and low, or 2.13%. For the last week the ETF has had daily average volatility of 2.99%.
Our recommended stop-loss: $26.68 (-4.00%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (MSFL) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Graniteshares 2x Long Msft Daily Etf to open at $27.95, and during the day (based on 14 day Average True Range), to move between $27.02 and $28.56, which gives a possible trading interval of +/-$0.774 (+/-2.78%) up or down from last closing price. If Graniteshares 2x Long Msft Daily Etf takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.07 (1.01%) than the support at $27.19 (2.16%), 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 Graniteshares 2x Long Msft Daily Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Graniteshares 2x Long Msft Daily Etf ETF to perform well in the short-term.
Current score: 2.223 Buy Candidate Unchanged
Predicted Opening Price for Graniteshares 2x Long Msft Daily Etf of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $27.95 ( 0.564%) | $27.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSFL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.54 | 2.69% |
| R2 | 28.31 | 1.88% |
| R1 | 28.17 | 1.37% |
| Price | 27.79 | |
| S1 | 27.72 | -0.247% |
| S2 | 27.58 | -0.748% |
| S3 | 27.36 | -1.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 28.07 | 1.01% |
| Price | 27.79 | |
| S1 | 27.19 | -2.16% |
| S2 | 25.46 | -8.38% |
| S3 | 22.73 | -18.21% |
FAQ
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