Leverage Shares 2x Nvidia Etc A ETF Forecast
Volatile ride for Leverage Shares 2x Nvidia Etc A ETF price on Tuesday moving between $47.16 and $54.36
(Updated on Jun 25, 2024)
The Leverage Shares 2x Nvidia Etc A ETF price gained 6.58% on the last trading day (Tuesday, 25th Jun 2024), rising from $51.00 to $54.36. During the last trading day the ETF fluctuated 15.26% from a day low at $47.16 to a day high of $54.36. The price has risen in 6 of the last 10 days and is up by 3.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $257.32 thousand.
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 $132.56 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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NVD2.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Leverage Shares 2x Nvidia Etc A has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares 2x Nvidia Etc A 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 $60.96 and $439.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -21.78%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares 2x Nvidia Etc A ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $46.87 and $46.19. 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, Leverage Shares 2x Nvidia Etc A finds support just below today's level at $46.87. If this is broken, then the next support from accumulated volume will be at $46.19 and $43.00.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $7.20 between high and low, or 15.26%. For the last week, the ETF has had daily average volatility of 11.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVD2.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 2x Nvidia Etc A to open at $51.96, and during the day (based on 14 day Average True Range), to move between $18.91 and $89.80, which gives a possible trading interval of +/-$35.44 (+/-65.20%) up or down from last closing price. If Leverage Shares 2x Nvidia Etc A takes out the full calculated possible swing range there will be an estimated 130.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.64 (7.87%) than the support at $46.87 (13.77%), 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 Leverage Shares 2x Nvidia Etc A ETF A Buy?
Leverage Shares 2x Nvidia Etc A 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -7.178 Strong Sell Candidate Downgraded
Predicted Opening Price for Leverage Shares 2x Nvidia Etc A of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $51.96 ( 4.41%) | $54.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVD2.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.15 | 8.82% |
| R2 | 56.40 | 3.77% |
| R1 | 54.71 | 0.644% |
| Price | 54.36 | |
| S1 | 49.21 | -9.47% |
| S2 | 47.51 | -12.59% |
| S3 | 44.76 | -17.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.88 | 12.00% |
| R2 | 58.71 | 8.01% |
| R1 | 58.64 | 7.87% |
| Price | 54.36 | |
| S1 | 46.87 | -13.77% |
| S2 | 46.19 | -15.03% |
| S3 | 43.00 | -20.89% |
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