PROSHARES ULTRA MIDCAP400 PROSHARES ETF Forecast
PROSHARES ULTRA MIDCAP400 PROSHARES ETF upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The PROSHARES ULTRA MIDCAP400 PROSHARES ETF price fell by -2.10% on the last day (Tuesday, 25th Jun 2024) from $63.23 to $61.90. During the last trading day the ETF fluctuated 1.73% from a day low at $61.86 to a day high of $62.93. The price has been going up and down for this period, and there has been a -0.64% 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 -4 thousand shares and in total, 4 thousand shares were bought and sold for approximately $234.80 thousand.
The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -2.40% during the next 3 months and, with a 90% probability hold a price between $56.20 and $65.13 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MVV Signals & Forecast
There are mixed signals in the ETF today. The PROSHARES ULTRA MIDCAP400 PROSHARES 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 $62.13 and $63.85. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.55%. 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).
Support, Risk & Stop-loss for PROSHARES ULTRA MIDCAP400 PROSHARES ETF
PROSHARES ULTRA MIDCAP400 PROSHARES finds support from accumulated volume at $61.73 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $1.07 between high and low, or 1.73%. For the last week the ETF has had daily average volatility of 1.59%
Our recommended stop-loss: $58.31 (-5.80%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (MVV) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect PROSHARES ULTRA MIDCAP400 PROSHARES ULTRA MIDCAP400 to open at $62.23, and during the day (based on 14 day Average True Range), to move between $60.57 and $63.23, which gives a possible trading interval of +/-$1.33 (+/-2.15%) up or down from last closing price. If PROSHARES ULTRA MIDCAP400 PROSHARES ULTRA MIDCAP400 takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $61.73 (0.28%) than the resistance at $64.65 (4.44%), 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 ULTRA MIDCAP400 PROSHARES ULTRA MIDCAP400 ETF A Buy?
PROSHARES ULTRA MIDCAP400 PROSHARES 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.799 Hold/Accumulate Upgraded
Predicted Opening Price for PROSHARES ULTRA MIDCAP400 PROSHARES ULTRA MIDCAP400 of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $62.23 ( 0.530%) | $61.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MVV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.30 | 2.26% |
| R2 | 62.89 | 1.60% |
| R1 | 62.64 | 1.19% |
| Price | 61.90 | |
| S1 | 61.82 | -0.129% |
| S2 | 61.57 | -0.537% |
| S3 | 61.16 | -1.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 67.33 | 8.77% |
| R2 | 66.42 | 7.30% |
| R1 | 64.65 | 4.44% |
| Price | 61.90 | |
| S1 | 61.73 | -0.280% |
| S2 | 61.44 | -0.751% |
| S3 | 60.48 | -2.29% |
MVV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.0329 | 0.0485% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.150 | 0.267% |
| 3 | Jan 23, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.0550 | 0.117% |
| 4 | Jan 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.121 | 0.235% |
| 5 | Jan 23, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.120 | 0.250% |
FAQ
Click here for our free guide on how to buy PROSHARES ULTRA MIDCAP400 PROSHARES ULTRA MIDCAP400 ETF.
