ProShares Trust - ProShares Nasdaq-100 ETF Forecast
Green day on Friday for ProShares Trust - ProShares Nasdaq-100
(Updated on Apr 26, 2024)
The ProShares Trust - ProShares Nasdaq-100 ETF price gained 1.59% on the last trading day (Friday, 26th Apr 2024), rising from $40.83 to $41.48. During the last trading day the ETF fluctuated 1.02% from a day low at $41.24 to a day high of $41.66. The price has fallen in 5 of the last 10 days and is down by -1.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $85.82 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProShares Trust - ProShares Nasdaq-100 ETF with a 90% probability to be traded between $39.32 and $43.42 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.
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QQQA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.38%. Further rise is indicated until a new top pivot has been found. ProShares Trust - ProShares Nasdaq-100 has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares Trust - ProShares Nasdaq-100 ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $42.48. On a fall, the ETF will find some support from the short-term average at $40.66. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ProShares Trust - ProShares Nasdaq-100 ETF
ProShares Trust - ProShares Nasdaq-100 finds support from accumulated volume at $41.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.420 between high and low, or 1.02%. For the last week, the ETF has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QQQA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ProShares Trust - ProShares Nasdaq-100 Dorsey Wright Momentum ETF to open at $41.46, and during the day (based on 14 day Average True Range), to move between $40.83 and $42.13, which gives a possible trading interval of +/-$0.649 (+/-1.57%) up or down from last closing price. If ProShares Trust - ProShares Nasdaq-100 Dorsey Wright Momentum ETF takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.66 (0.44%) than the support at $41.01 (1.13%), 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 Trust - ProShares Nasdaq-100 Dorsey Wright Momentum ETF ETF A Buy?
ProShares Trust - ProShares Nasdaq-100 holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.342 Sell Candidate Unchanged
Predicted Opening Price for ProShares Trust - ProShares Nasdaq-100 Dorsey Wright Momentum ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $41.46 ( 0.0482%) | $41.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.88 | 0.96 % | |
| R2 | 41.72 | 0.578 % | ||
| R1 | 41.62 | 0.339 % | ||
| Current price: | 41.48 | |||
| Support | S1 | 41.30 | -0.435 % | |
| S2 | 41.20 | -0.674 % | ||
| S3 | 41.04 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.68 | 5.30 % | |
| R2 | 41.85 | 0.89 % | ||
| R1 | 41.66 | 0.445 % | ||
| Current price | 41.48 | |||
| Support | S1 | 41.01 | -1.13% | |
| S2 | 40.87 | -1.47% | ||
| S3 | 39.74 | -4.19% |
QQQA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.0214 | 0.0495% |
| 2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $0.100 | 0.294% |
| 3 | Mar 21, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.0340 | 0.107% |
| 4 | Dec 21, 2022 | Dec 22, 2022 | Dec 30, 2022 | $0.0510 | 0.162% |
| 5 | Sep 20, 2022 | Sep 21, 2022 | Sep 28, 2022 | $0.0240 | 0.0772% |
FAQ
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