ProShares Short Russell2000 ETF 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
Red day on Wednesday for ProShares Short Russell2000 ETF after losing 0.185%
(Updated on May 01, 2024)
The ProShares Short Russell2000 ETF price fell by -0.185% on the last day (Wednesday, 1st May 2024) from $21.65 to $21.61. During the last trading day the ETF fluctuated 2.72% from a day low at $21.17 to a day high of $21.75. The price has fallen in 6 of the last 10 days and is down by -1.37% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $73.89 million.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $21.96 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect ProShares Short Russell2000 ETF with a 90% probability to be traded between $19.89 and $21.82 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $21.46 and $21.03. 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). 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 Thursday, April 18, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for ProShares Short Russell2000 ETF
ProShares Short Russell2000 finds support from accumulated volume at $21.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.575 (2.72%) between high and low. For the last week, the ETF has had daily average volatility of 1.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RWM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ProShares Short Russell2000 to open at $21.51, and during the day (based on 14 day Average True Range), to move between $21.23 and $21.99, which gives a possible trading interval of +/-$0.376 (+/-1.74%) up or down from last closing price. If ProShares Short Russell2000 takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.68 (0.32%) than the support at $21.17 (2.04%), 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 Short Russell2000 ETF A Buy?
ProShares Short Russell2000 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: -1.869 Sell Candidate Unchanged
Predicted Opening Price for ProShares Short Russell2000 of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.51 ( 0.470%) | $21.61 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 22.08 | 2.19 % | |
| R2 | 21.86 | 1.17 % | ||
| R1 | 21.73 | 0.546 % | ||
| Current price: | 21.61 | |||
| Support | S1 | 21.29 | -1.49 % | |
| S2 | 21.15 | -2.11 % | ||
| S3 | 20.93 | -3.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.98 | 1.71 % | |
| R2 | 21.85 | 1.11 % | ||
| R1 | 21.68 | 0.324 % | ||
| Current price | 21.61 | |||
| Support | S1 | 21.17 | -2.04% | |
| S2 | 21.04 | -2.64% | ||
| S3 | 20.27 | -6.20% |
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
Click here for our free guide on how to buy ProShares Short Russell2000 ETF.
