Etracs 2x Leveraged Msci Us Quality ETF Forecast

Red day on Tuesday for Etracs 2x Leveraged Msci Us Quality
(Updated on Jun 25, 2024)

QULL Signals & Forecast

The Etracs 2x Leveraged Msci Us Quality 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 $45.71 and $44.73. A breakdown below any of these levels will issue sell signals. 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, June 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Etracs 2x Leveraged Msci Us Quality ETF

Etracs 2x Leveraged Msci Us Quality finds support from accumulated volume at $45.42 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 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 0.0432%

The Etracs 2x Leveraged Msci Us Quality ETF is extremely overbought on RSI14 (97). This increases the short-term risk substantially.

Our recommended stop-loss: $45.01 (-3.06%) (This ETF has low daily movements and this gives low risk. The RSI14 is 97 and this increases the risk substantially. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (QULL) For The Upcoming Trading Day Of Wednesday 26th

With no resistance above and support from accumulated volume @ $45.42, some $1.01 (2.17%) from the current price of $46.43, our system finds the risk reward attractive.

Is Etracs 2x Leveraged Msci Us Quality Factor Tr Etn ETF A Buy?

Etracs 2x Leveraged Msci Us Quality 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Etracs 2x Leveraged Msci Us Quality Factor Tr Etn of Wednesday, June 26, 2024

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