ProShares Online Retail ETF Forecast
ProShares Online Retail ETF downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The ProShares Online Retail ETF price gained 2.04% on the last trading day (Friday, 3rd May 2024), rising from $40.16 to $40.98. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.786% from a day low at $40.69 to a day high of $41.01. The price has risen in 7 of the last 10 days and is up by 10.64% 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, 34 thousand more shares were traded than the day before. In total, 57 thousand shares were bought and sold for approximately $2.35 million.
The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $40.66, a level that may pose a second chance to hit a runner. According to fan-theory $43.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ONLN Signals & Forecast
The ProShares Online Retail ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $39.07 and $38.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.64%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ProShares Online Retail ETF
ProShares Online Retail finds support from accumulated volume at $39.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.320 (0.786%) between high and low. For the last week, the ETF has had daily average volatility of 1.54%.
Our recommended stop-loss: $39.52 (-3.56%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ONLN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ProShares Online Retail ETF to open at $40.89, and during the day (based on 14 day Average True Range), to move between $40.22 and $41.74, which gives a possible trading interval of +/-$0.759 (+/-1.85%) up or down from last closing price. If ProShares Online Retail ETF takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $39.20, some $1.78 (4.34%) from the current price of $40.98, our system finds the risk reward attractive.
Is ProShares Online Retail ETF ETF A Buy?
ProShares Online Retail holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 ProShares Online Retail ETF of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$40.89 ( 0.211%) | $40.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONLN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.21 | 0.569 % | |
R2 | 41.09 | 0.271 % | ||
R1 | 41.02 | 0.0868 % | ||
Current price: | 40.98 | |||
Support | S1 | 40.77 | -0.510 % | |
S2 | 40.70 | -0.694 % | ||
S3 | 40.57 | -0.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 40.98 | |||
Support | S1 | 39.20 | -4.34% | |
S2 | 38.58 | -5.86% | ||
S3 | 38.42 | -6.25% |
ONLN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.0453 | 0.116% |
2 | Dec 22, 2020 | Dec 23, 2020 | Dec 31, 2020 | $0.570 | 0.751% |
3 | Sep 22, 2020 | Sep 23, 2020 | Sep 30, 2020 | $0.371 | 0.591% |
FAQ
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