PROSHARES SHORT FINANCIALS PROSHARES ETF Forecast
Stronger technical forecast for PROSHARES SHORT FINANCIALS PROSHARES ETF price after Friday trading.
(Updated on Jun 28, 2024)
The PROSHARES SHORT FINANCIALS PROSHARES ETF price fell by -0.333% on the last day (Friday, 28th Jun 2024) from $10.50 to $10.46. During the last trading day the ETF fluctuated 0.98% from a day low at $10.39 to a day high of $10.49. The price has fallen in 6 of the last 10 days and is down by -2.23% for this period. Volume has increased on the last day by 20 thousand 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, 28 thousand shares were bought and sold for approximately $293.40 thousand.
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 FINANCIALS PROSHARES ETF with a 90% probability to be traded between $10.29 and $10.96 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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SEF Signals & Forecast
There are few to no technical positive signals at the moment. The PROSHARES SHORT FINANCIALS PROSHARES ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.51 and $10.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.52%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). PROSHARES SHORT FINANCIALS PROSHARES gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for PROSHARES SHORT FINANCIALS PROSHARES ETF
PROSHARES SHORT FINANCIALS PROSHARES finds support from accumulated volume at $10.31 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 $0.102 between high and low, or 0.98%. For the last week the ETF has had daily average volatility of 0.82%.
Our recommended stop-loss: $10.10 (-3.48%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (SEF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PROSHARES SHORT FINANCIALS PROSHARES SHORT FINANCIALS to open at $10.45, and during the day (based on 14 day Average True Range), to move between $10.35 and $10.57, which gives a possible trading interval of +/-$0.105 (+/-1.01%) up or down from last closing price. If PROSHARES SHORT FINANCIALS PROSHARES SHORT FINANCIALS takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.56 (0.96%) than the support at $10.31 (1.43%), 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 FINANCIALS PROSHARES SHORT FINANCIALS ETF A Buy?
PROSHARES SHORT FINANCIALS PROSHARES holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.543 Hold/Accumulate Upgraded
Predicted Opening Price for PROSHARES SHORT FINANCIALS PROSHARES SHORT FINANCIALS of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $10.45 ( 0.133%) | $10.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.55 | 0.84% |
| R2 | 10.51 | 0.468% |
| R1 | 10.48 | 0.239% |
| Price | 10.46 | |
| S1 | 10.41 | -0.504% |
| S2 | 10.38 | -0.734% |
| S3 | 10.34 | -1.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.69 | 2.20% |
| R2 | 10.57 | 1.05% |
| R1 | 10.56 | 0.96% |
| Price | 10.46 | |
| S1 | 10.31 | -1.43% |
| S2 | 10.29 | -1.63% |
| S3 | 10.22 | -2.29% |
SEF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.111 | 1.09% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.193 | 1.67% |
| 3 | Jan 06, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.137 | 1.06% |
| 4 | Jan 06, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.111 | 0.85% |
| 5 | Jan 06, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.0630 | 0.468% |
FAQ
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