AXS 1.25X NVDA Bear Daily ETF Forecast

Red day on Tuesday for AXS 1.25X NVDA Bear Daily ETF after losing 1.28%
(Updated on May 14, 2024)

NVDS Signals & Forecast

The AXS 1.25X NVDA Bear Daily ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $61.71. On a fall, the ETF will find some support from the long-term average at approximately $58.78. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -21.49%. Further fall is indicated until a new bottom pivot has been found. 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 AXS 1.25X NVDA Bear Daily ETF

AXS 1.25X NVDA Bear Daily finds support from accumulated volume at $60.28 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 $2.27 between high and low, or 3.73%. For the last week, the ETF has had daily average volatility of 3.29%.

Our recommended stop-loss: $57.49 (-5.75%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (NVDS) For The Upcoming Trading Day Of Wednesday 15th

For the upcoming trading day on Wednesday, 15th we expect AXS 1.25X NVDA Bear Daily ETF to open at $61.61, and during the day (based on 14 day Average True Range), to move between $57.61 and $64.39, which gives a possible trading interval of +/-$3.39 (+/-5.56%) up or down from last closing price. If AXS 1.25X NVDA Bear Daily ETF takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $60.28 (1.18%) than the resistance at $69.77 (14.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AXS 1.25X NVDA Bear Daily ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AXS 1.25X NVDA Bear Daily ETF to perform well in the short-term.

Current score: 2.478 Buy Candidate Unchanged

Predicted Opening Price for AXS 1.25X NVDA Bear Daily ETF of Wednesday, May 15, 2024

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