ProShares S&P MidCap 400 Dividend ETF Forecast

Green day on Friday for ProShares S&P MidCap 400 Dividend ETF after gaining 0.283%
(Updated on May 17, 2024)

REGL Signals & Forecast

Mostly positive signals in the chart today. The ProShares S&P MidCap 400 Dividend 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 $77.70 and $76.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.35%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. The ETF had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ProShares S&P MidCap 400 Dividend ETF

ProShares S&P MidCap 400 Dividend finds support from accumulated volume at $75.11 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.300 between high and low, or 0.387%. For the last week the ETF has had daily average volatility of 0.614%.

Our recommended stop-loss: $74.09 (-4.87%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (REGL) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect ProShares S&P MidCap 400 Dividend Aristocrats ETF to open at $77.78, and during the day (based on 14 day Average True Range), to move between $77.20 and $78.56, which gives a possible trading interval of +/-$0.680 (+/-0.87%) up or down from last closing price. If ProShares S&P MidCap 400 Dividend Aristocrats ETF takes out the full calculated possible swing range there will be an estimated 1.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $77.93 (0.06%) than the support at $75.11 (3.56%), 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 S&P MidCap 400 Dividend Aristocrats ETF 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 ProShares S&P MidCap 400 Dividend ETF to perform well in the short-term.

Current score: 2.931 Buy Candidate Unchanged

Predicted Opening Price for ProShares S&P MidCap 400 Dividend Aristocrats ETF of Monday, May 20, 2024

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