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ProShares UltraPro Short Dow30 Stock Forecast NYSEARCA:SDOW

$28.89 (2.88%)

Volume: 6M

Closed: Jan 19, 2022

Hollow Logo Score: 0.998

ProShares UltraPro Short Dow30 Stock Forecast

$28.89 (2.88%)

Volume: 6M

Closed: Jan 19, 2022

Score Hollow Logo 0.998
Which way will SDOW go? Request
Stop-loss: $28.03 (-2.98%)
Key Stats
Beta -2.54
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The ProShares UltraPro Short Dow30 stock holds an RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sell signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

ProShares UltraPro Short Dow30 stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jan 19, 2022)


Buy or Hold candidate since 2022-01-18 Gain 2.88% PDF

The ProShares UltraPro Short Dow30 stock price gained 2.88% on the last trading day (Wednesday, 19th Jan 2022), rising from $28.08 to $28.89. , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 4.59% from a day low at $27.67 to a day high of $28.94. The price has risen in 8 of the last 10 days and is up by 15.38% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 6 million shares were bought and sold for approximately $185.44 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.60% during the next 3 months and, with a 90% probability hold a price between $23.36 and $29.47 at the end of this 3-month period.

Signals & Forecast

The ProShares UltraPro Short Dow30 stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $27.01 and $27.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 04, 2022, and so far it has risen 15.38%. 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 stock should be watched closely.

Support, Risk & Stop-loss

ProShares UltraPro Short Dow30 finds support from accumulated volume at $28.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.27 between high and low, or 4.59%. For the last week, the stock has had a daily average volatility of 3.30%.

Our recommended stop-loss: $28.03 (-2.98%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)

Is ProShares UltraPro Short Dow30 stock A Buy?

ProShares UltraPro Short Dow30 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.998

Hold/Accumulate Downgraded

Predicted Opening Price for ProShares UltraPro Short Dow30 of Thursday, January 20, 2022

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

Fair opening price January 20, 2022 Current price
$28.50 $28.89 (Overvalued)

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Volatility and Risk
Daily Average Volatility: 3.30 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.30 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $30.36
Price: $28.89
Support: $28.33

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 29.77 3.05 %
29.28 1.37 %
28.99 0.33 %
Current price: 28.89
Support 28.01 -3.03 %
27.72 -4.07 %
27.23 -5.75 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 32.20 11.46 %
30.54 5.71 %
30.36 5.09 %
Current price 28.89
Support 28.33 -1.94%
26.91 -6.85%
25.82 -10.63%

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About ProShares UltraPro Short Dow30

The investment seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the Dow Jones Industrial AverageSM. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as three times the inverse (-3x) of the daily return of the index. The index is a price-weighted index and includes 30 large-cap, "bl... Read more

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