ProShares K-1 Free Crude Oil Strategy 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
Red day on Friday for ProShares K-1 Free Crude Oil Strategy
(Updated on May 31, 2024)
The ProShares K-1 Free Crude Oil Strategy ETF price fell by -0.558% on the last day (Friday, 31st May 2024) from $46.56 to $46.30. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.19% from a day low at $46.09 to a day high of $46.64. The price has fallen in 6 of the last 10 days and is down by -1.05% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 thousand shares were bought and sold for approximately $980.77 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $45.85 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect ProShares K-1 Free Crude Oil Strategy ETF with a 90% probability to be traded between $45.99 and $49.82 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
OILK Signals & Forecast
The ProShares K-1 Free Crude Oil Strategy 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 $46.52 and $47.31. A break-up above any of these levels will issue buy signals. ProShares K-1 Free Crude Oil Strategy gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ProShares K-1 Free Crude Oil Strategy ETF
ProShares K-1 Free Crude Oil Strategy finds support from accumulated volume at $45.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.550 between high and low, or 1.19%. For the last week the ETF has had daily average volatility of 1.10%.
Our recommended stop-loss: $44.12 (-4.72%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (OILK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect ProShares K-1 Free Crude Oil Strategy ETF to open at $46.34, and during the day (based on 14 day Average True Range), to move between $45.62 and $46.98, which gives a possible trading interval of +/-$0.680 (+/-1.47%) up or down from last closing price. If ProShares K-1 Free Crude Oil Strategy ETF takes out the full calculated possible swing range there will be an estimated 2.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $46.33 (0.06%) than the support at $45.84 (0.99%), 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 ProShares K-1 Free Crude Oil Strategy ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.555 Buy Candidate Unchanged
Predicted Opening Price for ProShares K-1 Free Crude Oil Strategy ETF of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $46.34 ( 0.0935%) | $46.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OILK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.89 | 1.28 % | |
| R2 | 46.68 | 0.83 % | ||
| R1 | 46.55 | 0.547 % | ||
| Current price: | 46.30 | |||
| Support | S1 | 46.13 | -0.360 % | |
| S2 | 46.00 | -0.641 % | ||
| S3 | 45.79 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.85 | 3.35 % | |
| R2 | 47.46 | 2.51 % | ||
| R1 | 46.33 | 0.0648 % | ||
| Current price | 46.30 | |||
| Support | S1 | 45.84 | -0.99% | |
| S2 | 45.04 | -2.72% | ||
| S3 | 44.97 | -2.87% |
OILK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | May 01, 2024 | May 08, 2024 | $0.257 | 0.553% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 08, 2024 | $0.218 | 0.492% |
| 3 | Dec 01, 2023 | Dec 01, 2023 | Dec 08, 2023 | $0.202 | 0.479% |
| 4 | Nov 01, 2023 | Nov 01, 2023 | Nov 01, 2023 | $0.481 | 1.04% |
| 5 | Sep 29, 2023 | Oct 02, 2023 | Oct 10, 2023 | $1.02 | 2.18% |
FAQ
Click here for our free guide on how to buy ProShares K-1 Free Crude Oil Strategy ETF ETF.
