Leverage Shares -3x Short China Tech Etp ETF Forecast
Leverage Shares -3x Short China Tech Etp ETF price ended at 0.143€ on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of Leverage Shares -3x Short China Tech Etp ETF on the last trading day (Friday, 28th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at 0.143€ to a day high of 0.143€. The price has been going up and down for this period, and there has been a 3.18% gain for the last 2 weeks.
The ETF 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 ETF is expected to fall -35.57% during the next 3 months and, with a 90% probability hold a price between 0.0460€ and 0.111€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SKWE.AS Signals & Forecast
There are mixed signals in the ETF today. The Leverage Shares -3x Short China Tech Etp ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 0.143€ and 0.166€. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has fallen 0%. 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).
A sell signal from a double top formation was found on Friday, April 19, 2024 with a target of 0.230€. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for Leverage Shares -3x Short China Tech Etp ETF
Leverage Shares -3x Short China Tech Etp finds support from accumulated volume at 0.140€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0€ between high and low, or 0%. For the last week the ETF has had daily average volatility of 0%
Our recommended stop-loss: 0.134€ (-5.98%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (SKWE.AS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares -3x Short China Tech Etp Securities to open at 0.143€, and during the day (based on 14 day Average True Range), to move between 0.137€ and 0.148€, which gives a possible trading interval of +/-0.0055€ (+/-3.85%) up or down from last closing price. If Leverage Shares -3x Short China Tech Etp Securities takes out the full calculated possible swing range there will be an estimated 7.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.140€ (2.31%) than the resistance at 0.165€ (15.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Leverage Shares -3x Short China Tech Etp Securities ETF A Buy?
Leverage Shares -3x Short China Tech Etp 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Leverage Shares -3x Short China Tech Etp Securities of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 0.143€ ( 0%) | 0.143€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKWE.AS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.143 | - |
| R2 | 0.143 | - |
| R1 | 0.143 | - |
| Price | 0.143 | |
| S1 | 0.143 | - |
| S2 | 0.143 | - |
| S3 | 0.143 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.174 | 22.13% |
| R2 | 0.166 | 16.04% |
| R1 | 0.165 | 15.48% |
| Price | 0.143 | |
| S1 | 0.140 | -2.31% |
| S2 | 0.138 | -3.08% |
| S3 | 0.133 | -6.93% |
FAQ
Click here for our free guide on how to buy Leverage Shares -3x Short China Tech Etp Securities ETF.
