Leverage Shares 3x Long Us Tech 100 Etp ETF Forecast

Leverage Shares 3x Long Us Tech 100 Etp ETF price fell more than -6.12% Wednesday closing at £22.26
(Updated on Jun 19, 2024)

QQL3.L Signals & Forecast

The Leverage Shares 3x Long Us Tech 100 Etp 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 £22.26 and £19.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 18, 2024, and so far it has fallen -6.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Leverage Shares 3x Long Us Tech 100 Etp ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £20.77 and £20.71. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Long Us Tech 100 Etp finds support just below today's level at £20.77. If this is broken, then the next support from accumulated volume will be at £20.71 and £17.30.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved £0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.386%

Our recommended stop-loss: £20.97 (-5.78%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (QQL3.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Leverage Shares 3x Long Us Tech 100 Etp Securities to open at £22.26, and during the day (based on 14 day Average True Range), to move between £21.45 and £23.07, which gives a possible trading interval of +/-£0.81 (+/-3.63%) up or down from last closing price. If Leverage Shares 3x Long Us Tech 100 Etp Securities takes out the full calculated possible swing range there will be an estimated 7.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £22.41 (0.67%) than the support at £20.77 (6.71%), 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 Leverage Shares 3x Long Us Tech 100 Etp Securities 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 Leverage Shares 3x Long Us Tech 100 Etp ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.863 Buy Candidate Upgraded

Predicted Opening Price for Leverage Shares 3x Long Us Tech 100 Etp Securities of Thursday, June 20, 2024

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