MicroSectors Gold 3X Leveraged ETN ETF Forecast
MicroSectors Gold 3X Leveraged ETN ETF upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The MicroSectors Gold 3X Leveraged ETN ETF price gained 4.82% on the last trading day (Friday, 17th May 2024), rising from $37.77 to $39.59. During the last trading day the ETF fluctuated 2.17% from a day low at $38.75 to a day high of $39.59. The price has risen in 6 of the last 10 days and is up by 14.53% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 13 thousand shares were bought and sold for approximately $530.47 thousand. 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 ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 40.22% during the next 3 months and, with a 90% probability hold a price between $51.81 and $62.13 at the end of this 3-month period.
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SHNY Signals & Forecast
The MicroSectors Gold 3X Leveraged ETN 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 $37.45 and $36.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 15.63%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for MicroSectors Gold 3X Leveraged ETN ETF
MicroSectors Gold 3X Leveraged ETN finds support from accumulated volume at $39.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.84 between high and low, or 2.17%. For the last week the ETF has had daily average volatility of 2.16%.
Our recommended stop-loss: $38.30 (-3.26%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SHNY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MicroSectors Gold 3X Leveraged ETN to open at $39.31, and during the day (based on 14 day Average True Range), to move between $38.34 and $40.84, which gives a possible trading interval of +/-$1.25 (+/-3.15%) up or down from last closing price. If MicroSectors Gold 3X Leveraged ETN takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $39.31, some $0.280 (0.71%) from the current price of $39.59, our system finds the risk reward attractive.
Is MicroSectors Gold 3X Leveraged ETN ETF A Buy?
MicroSectors Gold 3X Leveraged ETN holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.446 Strong Buy Candidate Upgraded
Predicted Opening Price for MicroSectors Gold 3X Leveraged ETN of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $39.31 ( 0.707%) | $39.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHNY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.15 | 1.41 % | |
| R2 | 39.83 | 0.604 % | ||
| R1 | 39.63 | 0.103 % | ||
| Current price: | 39.59 | |||
| Support | S1 | 38.99 | -1.52 % | |
| S2 | 38.79 | -2.02 % | ||
| S3 | 38.47 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 39.59 | |||
| Support | S1 | 39.31 | -0.708% | |
| S2 | 37.32 | -5.73% | ||
| S3 | 37.27 | -5.86% |
SHNY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 19, 2017 | Dec 19, 2017 | Dec 19, 2017 | $0.0450 | 0.510% |
FAQ
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