Boost NASDAQ 100 3x Short Daily ETP Stock 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
Is Boost NASDAQ 100 3x Short Daily ETP stock still a buy after falling -7.07% on Friday?
(Updated on Apr 26, 2024)
The Boost NASDAQ 100 3x Short Daily ETP stock price fell by -7.07% on the last day (Friday, 26th Apr 2024) from £12.20 to £11.34. During the last trading day the stock fluctuated 3.19% from a day low at £11.30 to a day high of £11.66. The price has risen in 7 of the last 10 days and is up by 6.38% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -17 thousand shares and in total, 38 thousand shares were bought and sold for approximately £435.14 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.61% during the next 3 months and, with a 90% probability hold a price between £9.60 and £12.33 at the end of this 3-month period.
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QQQS.L Signals & Forecast
The Boost NASDAQ 100 3x Short Daily ETP stock 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 stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £11.98. On a fall, the stock will find some support from the long-term average at approximately £10.90. 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. 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 Monday, April 22, 2024, and so far it has fallen -10.62%. 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 stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Boost NASDAQ 100 3x Short Daily ETP stock
Boost NASDAQ 100 3x Short Daily ETP finds support from accumulated volume at £10.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.360 between high and low, or 3.19%. For the last week the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QQQS.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Boost NASDAQ 100 3x Short Daily ETP to open at £11.43, and during the day (based on 14 day Average True Range), to move between £10.84 and £11.83, which gives a possible trading interval of +/-£0.492 (+/-4.34%) up or down from last closing price. If Boost NASDAQ 100 3x Short Daily ETP takes out the full calculated possible swing range there will be an estimated 8.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £11.40 (0.55%) than the support at £10.78 (4.87%), 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 Boost NASDAQ 100 3x Short Daily ETP stock A Buy?
Boost NASDAQ 100 3x Short Daily ETP 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 stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.294 Sell Candidate Downgraded
Predicted Opening Price for Boost NASDAQ 100 3x Short Daily ETP of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £11.43 ( 0.82%) | £11.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.79 | 4.00 % | |
| R2 | 11.65 | 2.79 % | ||
| R1 | 11.57 | 2.04 % | ||
| Current price: | 11.34 | |||
| Support | S1 | 11.29 | -0.390 % | |
| S2 | 11.21 | -1.14 % | ||
| S3 | 11.07 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.43 | 9.66 % | |
| R2 | 11.90 | 4.94 % | ||
| R1 | 11.40 | 0.551 % | ||
| Current price | 11.34 | |||
| Support | S1 | 10.78 | -4.87% | |
| S2 | 10.46 | -7.76% | ||
| S3 | 10.44 | -7.90% |
FAQ
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