ETRACS Monthly Pay 1.5X Leveraged ETF Forecast
ETRACS Monthly Pay 1.5X Leveraged ETF price ended at $17.08 on Tuesday, after losing 0.657%.
(Updated on Jun 25, 2024)
The ETRACS Monthly Pay 1.5X Leveraged ETF price fell by -0.657% on the last day (Tuesday, 25th Jun 2024) from $17.19 to $17.08. During the last trading day the ETF fluctuated 0.752% from a day low at $17.05 to a day high of $17.18. The price has been going up and down for this period, and there has been a 2.45% gain for the last 2 weeks. Volume has increased on the last day by 8 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, 11 thousand shares were bought and sold for approximately $192.26 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ETRACS Monthly Pay 1.5X Leveraged ETF with a 90% probability to be traded between $15.14 and $17.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MVRL Signals & Forecast
The ETRACS Monthly Pay 1.5X Leveraged 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 $17.07 and $17.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 5.56%. Further rise is indicated until a new top pivot has been found. 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. ETRACS Monthly Pay 1.5X Leveraged 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".
Support, Risk & Stop-loss for ETRACS Monthly Pay 1.5X Leveraged ETF
ETRACS Monthly Pay 1.5X Leveraged finds support from accumulated volume at $16.63 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.128 between high and low, or 0.752%. For the last week the ETF has had daily average volatility of 0.704%.
Our recommended stop-loss: $16.32 (-4.42%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (MVRL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN to open at $17.10, and during the day (based on 14 day Average True Range), to move between $16.82 and $17.34, which gives a possible trading interval of +/-$0.259 (+/-1.52%) up or down from last closing price. If ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.10 (0.12%) than the support at $16.63 (2.63%), 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 ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN ETF A Buy?
ETRACS Monthly Pay 1.5X Leveraged holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.234 Hold/Accumulate Unchanged
Predicted Opening Price for ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $17.10 ( 0.137%) | $17.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MVRL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.23 | 0.89% |
| R2 | 17.18 | 0.601% |
| R1 | 17.15 | 0.424% |
| Price | 17.08 | |
| S1 | 17.05 | -0.150% |
| S2 | 17.02 | -0.327% |
| S3 | 16.97 | -0.614% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.98 | 5.28% |
| R2 | 17.66 | 3.40% |
| R1 | 17.10 | 0.122% |
| Price | 17.08 | |
| S1 | 16.63 | -2.63% |
| S2 | 16.36 | -4.21% |
| S3 | 16.30 | -4.54% |
MVRL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 21, 2024 | $0.0502 | 0.294% |
| 2 | May 10, 2024 | May 10, 2024 | May 21, 2024 | $0.144 | 0.83% |
| 3 | Apr 11, 2024 | Apr 11, 2024 | Apr 22, 2024 | $0.574 | 3.52% |
| 4 | Mar 11, 2024 | Mar 11, 2024 | Mar 20, 2024 | $0.0633 | 0.357% |
| 5 | Feb 09, 2024 | Feb 09, 2024 | Feb 21, 2024 | $0.0845 | 0.500% |
FAQ
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