Leverage Shares -3x Short Coinbase ETF Forecast

Big movements in Leverage Shares -3x Short Coinbase ETF price on Tuesday moving 10.93% between high and low
(Updated on Jun 25, 2024)

S3CO.L Signals & Forecast

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. The Leverage Shares -3x Short Coinbase ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £42.14. On a fall, the ETF will find some support from the short-term average at £30.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -5.92%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Leverage Shares -3x Short Coinbase ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £32.54 and £28.73. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares -3x Short Coinbase finds support just below today's level at £32.54. If this is broken, then the next support from accumulated volume will be at £28.73 and £26.35.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved £3.82 between high and low, or 10.93%. For the last week, the ETF has had daily average volatility of 10.72%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (S3CO.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Leverage Shares -3x Short Coinbase (coin) Etp Securities to open at £36.24, and during the day (based on 14 day Average True Range), to move between £28.79 and £41.18, which gives a possible trading interval of +/-£6.19 (+/-17.70%) up or down from last closing price. If Leverage Shares -3x Short Coinbase (coin) Etp Securities takes out the full calculated possible swing range there will be an estimated 35.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £36.78 (5.13%) than the support at £32.54 (6.99%), 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 Leverage Shares -3x Short Coinbase (coin) Etp Securities ETF A Buy?

Leverage Shares -3x Short Coinbase 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.314 Sell Candidate Downgraded

Predicted Opening Price for Leverage Shares -3x Short Coinbase (coin) Etp Securities of Wednesday, June 26, 2024

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