ProShares Short Russell2000 ETF Forecast
ProShares Short Russell2000 ETF price ended at $21.33 on Tuesday, after gaining 0.376%.
(Updated on Jun 25, 2024)
The ProShares Short Russell2000 ETF price gained 0.376% on the last trading day (Tuesday, 25th Jun 2024), rising from $21.25 to $21.33. During the last trading day the ETF fluctuated 0.612% from a day low at $21.26 to a day high of $21.39. The price has been going up and down for this period, and there has been a 0.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $31.03 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProShares Short Russell2000 ETF with a 90% probability to be traded between $20.66 and $22.42 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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RWM Signals & Forecast
The ProShares Short Russell2000 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 $21.33 and $20.91. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, June 14, 2024, and so far it has fallen -0.652%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ProShares Short Russell2000 ETF
ProShares Short Russell2000 finds support from accumulated volume at $21.29 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 $0.130 between high and low, or 0.612%. For the last week the ETF has had daily average volatility of 0.96%.
Our recommended stop-loss: $20.47 (-4.01%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (RWM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect ProShares Short Russell2000 to open at $21.33, and during the day (based on 14 day Average True Range), to move between $21.03 and $21.63, which gives a possible trading interval of +/-$0.301 (+/-1.41%) up or down from last closing price. If ProShares Short Russell2000 takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.29 (0.19%) than the resistance at $21.61 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares Short Russell2000 ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ProShares Short Russell2000 ETF to perform well in the short-term period.
Current score: 1.857 Buy Candidate Unchanged
Predicted Opening Price for ProShares Short Russell2000 of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $21.33 ( 0.0155%) | $21.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RWM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.46 | 0.594% |
| R2 | 21.41 | 0.361% |
| R1 | 21.38 | 0.218% |
| Price | 21.33 | |
| S1 | 21.28 | -0.248% |
| S2 | 21.25 | -0.392% |
| S3 | 21.20 | -0.625% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.98 | 3.05% |
| R2 | 21.68 | 1.64% |
| R1 | 21.61 | 1.31% |
| Price | 21.33 | |
| S1 | 21.29 | -0.188% |
| S2 | 21.04 | -1.36% |
| S3 | 20.76 | -2.67% |
RWM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.258 | 1.28% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.350 | 1.63% |
| 3 | Jan 23, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.270 | 1.11% |
| 4 | Jan 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.241 | 1.04% |
| 5 | Jan 23, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.147 | 0.603% |
FAQ
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