Leverage Shares 3x Nvidia Etc ETF Forecast
Big movements in Leverage Shares 3x Nvidia Etc ETF price on Friday moving 10.30% between high and low
(Updated on Jun 28, 2024)
The Leverage Shares 3x Nvidia Etc ETF price gained 7.28% on the last trading day (Friday, 28th Jun 2024), rising from £72.10 to £77.35. During the last trading day the ETF fluctuated 10.30% from a day low at £72.53 to a day high of £80.00. The price has risen in 5 of the last 10 days but is still down by -9.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 139 thousand more shares were traded than the day before. In total, 139 thousand shares were bought and sold for approximately £10.74 million.
The ETFhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £71.25, a level that may pose a second chance to hit a runner. According to fan-theory £421.42 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. 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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NVD3.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leverage Shares 3x Nvidia Etc 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 £84.99 and £332.18. 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 -28.53%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Leverage Shares 3x Nvidia Etc ETF
Leverage Shares 3x Nvidia Etc finds support from accumulated volume at £74.81 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 £7.47 between high and low, or 10.30%. For the last week, the ETF has had daily average volatility of 15.17%.
Our recommended stop-loss: £73.42 (-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 22 days ago.)
Trading Expectations (NVD3.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Nvidia Etc to open at £76.63, and during the day (based on 14 day Average True Range), to move between £38.37 and £116.33, which gives a possible trading interval of +/-£38.98 (+/-50.40%) up or down from last closing price. If Leverage Shares 3x Nvidia Etc takes out the full calculated possible swing range there will be an estimated 100.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £74.81 (3.28%) than the resistance at £83.10 (7.43%), 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 3x Nvidia Etc ETF A Buy?
Leverage Shares 3x Nvidia Etc 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 3x Nvidia Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £76.63 ( 0.94%) | £77.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVD3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 84.10 | 8.72% |
| R2 | 81.24 | 5.03% |
| R1 | 79.48 | 2.75% |
| Price | 77.35 | |
| S1 | 73.77 | -4.62% |
| S2 | 72.01 | -6.90% |
| S3 | 69.16 | -10.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 95.70 | 23.72% |
| R2 | 91.49 | 18.28% |
| R1 | 83.10 | 7.43% |
| Price | 77.35 | |
| S1 | 74.81 | -3.28% |
| S2 | 71.44 | -7.64% |
| S3 | 61.37 | -20.66% |
FAQ
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