MicroSectors U.S. Big Oil Index -3X ETF Forecast

$151.22
-3.33 (-2.15%)
At Close: Mar 27, 2024
RSI low/high Values: [ 20 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of NRGD
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

MicroSectors U.S. Big Oil Index -3X ETF price down 2.15% on Wednesday
(Updated on Mar 27, 2024)

Sell candidate since Mar 05, 2024 Loss -23.25% PDF

The MicroSectors U.S. Big Oil Index -3X ETF price fell by -2.15% on the last day (Wednesday, 27th Mar 2024) from $154.55 to $151.22. During the last trading day the ETF fluctuated 3.29% from a day low at $151.22 to a day high of $156.19. The price has fallen in 8 of the last 10 days and is down by -11.16% for this period. 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 -31 thousand shares and in total, 12 thousand shares were bought and sold for approximately $1.88 million.

The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $147.77 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -32.07% during the next 3 months and, with a 90% probability hold a price between $100.38 and $129.36 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.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

NRGD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 0.332%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MicroSectors U.S. Big Oil Index -3X 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 $153.63 and $187.81. A break-up above any of these levels will issue buy signals. 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 MicroSectors U.S. Big Oil Index -3X ETF

MicroSectors U.S. Big Oil Index -3X finds support from accumulated volume at $150.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $4.97 between high and low, or 3.29%. For the last week, the ETF has had daily average volatility of 2.79%.

MicroSectors U.S. Big Oil Index -3X is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NRGD) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs to open at $152.88, and during the day (based on 14 day Average True Range), to move between $144.11 and $158.33, which gives a possible trading interval of +/-$7.11 (+/-4.70%) up or down from last closing price. If MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs takes out the full calculated possible swing range there will be an estimated 9.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $150.72 (0.33%) than the resistance at $155.37 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF A Buy?

MicroSectors U.S. Big Oil Index -3X holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -3.038 Sell Candidate Unchanged

Predicted Opening Price for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$152.88 ( 1.10%) $151.22

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

Trading levels for NRGD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 157.85 4.38 %
R2 155.95 3.13 %
R1 154.78 2.35 %
Current price: 151.22
Support S1 150.98 -0.160 %
S2 149.81 -0.94 %
S3 147.91 -2.19 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 181.76 20.20 %
R2 170.22 12.56 %
R1 155.37 2.74 %
Current price 151.22
Support S1 150.72 -0.331%
S2 0 .
S3 0 .

FAQ

What is the symbol for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF and on which exchange is it traded?
The symbol for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs is NRGD and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF?
MicroSectors U.S. Big Oil Index -3X holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

How to buy MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF?
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF.

What's the current price of MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF?
As of the end of day on the 2024-03-27, the price of an MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs (NRGD) share was $151.22.

What is the 52-week high and low for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF?
The 52-week high for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF is $402.12 and the 52-week low is $147.11.

What is the market capitalization of MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs ETF?
As of the 2024-03-27, the market capitalization of MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs is 99.262M.
Click to get the best stock tips daily for free!

About MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs

The investment seeks to reflect a 3x inverse leveraged exposure to the performance of the Solactive MicroSectorsTM U.S. Big Oil Index on a daily basis. The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a three times leveraged participation in the inverse performance of the index, compounded daily, less a Daily Investor Fee, any negative Daily Interest and, if applicable, the Redemption Fee Amount... NRGD Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT