Advisorshares Msos 2x Daily Etf ETF Forecast
Weaker technical forecast for Advisorshares Msos 2x Daily Etf as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Advisorshares Msos 2x Daily Etf ETF price fell by -4.95% on the last day (Tuesday, 25th Jun 2024) from $3.23 to $3.07. During the last trading day the ETF fluctuated 4.95% from a day low at $3.03 to a day high of $3.18. The price has been going up and down for this period, and there has been a -6.69% loss for the last 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 -254 thousand shares and in total, 899 thousand shares were bought and sold for approximately $2.76 million.
The ETF lies the upper part of a very wide and falling 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 $3.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -18.82% during the next 3 months and, with a 90% probability hold a price between $1.99 and $2.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MSOX Signals & Forecast
There are mixed signals in the ETF today. The Advisorshares Msos 2x Daily Etf ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $3.20. On a fall, the ETF will find some support from the short-term average at $2.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -4.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Advisorshares Msos 2x Daily Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $2.86 and $2.85. 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, Advisorshares Msos 2x Daily Etf finds support just below today's level at $2.86. If this is broken, then the next support from accumulated volume will be at $2.85 and $2.66.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $0.150 between high and low, or 4.95%. For the last week, the ETF has had daily average volatility of 7.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSOX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Advisorshares Msos 2x Daily Etf to open at $3.09, and during the day (based on 14 day Average True Range), to move between $2.80 and $3.34, which gives a possible trading interval of +/-$0.274 (+/-8.93%) up or down from last closing price. If Advisorshares Msos 2x Daily Etf takes out the full calculated possible swing range there will be an estimated 17.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.23 (5.21%) than the support at $2.86 (6.84%), 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 Advisorshares Msos 2x Daily Etf ETF A Buy?
Advisorshares Msos 2x Daily Etf holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -3.083 Sell Candidate Downgraded
Predicted Opening Price for Advisorshares Msos 2x Daily Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $3.09 ( 0.760%) | $3.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSOX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.24 | 5.65% |
| R2 | 3.19 | 3.78% |
| R1 | 3.15 | 2.63% |
| Price | 3.07 | |
| S1 | 3.04 | -1.11% |
| S2 | 3.00 | -2.26% |
| S3 | 2.94 | -4.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.62 | 17.92% |
| R2 | 3.25 | 5.86% |
| R1 | 3.23 | 5.21% |
| Price | 3.07 | |
| S1 | 2.86 | -6.84% |
| S2 | 2.85 | -7.17% |
| S3 | 2.66 | -13.36% |
FAQ
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