Leverage Shares 2x Nvidia Etc A ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Leverage Shares 2x Nvidia Etc A ETF price after Friday trading.
(Updated on Jun 28, 2024)
The Leverage Shares 2x Nvidia Etc A ETF price gained 3.94% on the last trading day (Friday, 28th Jun 2024), rising from $53.69 to $55.81. During the last trading day the ETF fluctuated 4.06% from a day low at $54.95 to a day high of $57.18. The price has fallen in 5 of the last 10 days and is down by -8.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 110 more shares were traded than the day before. In total, 110 shares were bought and sold for approximately $6.14 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 $57.90 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. The very low volume increases the risk and reduces the other technical signals issued. 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 $56.59 and $362.75. 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 -19.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares 2x Nvidia Etc A ETF
Leverage Shares 2x Nvidia Etc A finds support from accumulated volume at $54.36 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 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 $2.23 between high and low, or 4.06%. For the last week, the ETF has had daily average volatility of 8.50%.
Our recommended stop-loss: $52.97 (-5.08%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (NVD2.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 2x Nvidia Etc A to open at $55.98, and during the day (based on 14 day Average True Range), to move between $26.97 and $84.64, which gives a possible trading interval of +/-$28.83 (+/-51.67%) 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 103.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.36 (2.60%) than the resistance at $58.64 (5.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares 2x Nvidia Etc A ETF A Buy?
Leverage Shares 2x Nvidia Etc A holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Strong Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Leverage Shares 2x Nvidia Etc A of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $55.98 ( 0.311%) | $55.81 |
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 | 58.21 | 4.31% |
| R2 | 57.36 | 2.78% |
| R1 | 56.83 | 1.84% |
| Price | 55.81 | |
| S1 | 55.13 | -1.22% |
| S2 | 54.60 | -2.16% |
| S3 | 53.75 | -3.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 68.95 | 23.55% |
| R2 | 58.71 | 5.21% |
| R1 | 58.64 | 5.07% |
| Price | 55.81 | |
| S1 | 54.36 | -2.60% |
| S2 | 53.69 | -3.79% |
| S3 | 46.19 | -17.24% |
FAQ
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