Leverage Shares 3x Long Silver Etp ETF Forecast

Is Leverage Shares 3x Long Silver Etp ETF still a buy after falling -7.57% on Tuesday?
(Updated on Jun 25, 2024)

SLV3.L Signals & Forecast

There are few to no technical positive signals at the moment. The Leverage Shares 3x Long Silver 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 £10.47 and £11.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -31.49%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Leverage Shares 3x Long Silver Etp ETF

Leverage Shares 3x Long Silver Etp finds support from accumulated volume at £9.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move much during the day (volatility) and with periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved £0.477 between high and low, or 4.88%. For the last week the ETF has had daily average volatility of 5.33%.

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

Trading Expectations (SLV3.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Leverage Shares 3x Long Silver Etp Securities to open at £9.97, and during the day (based on 14 day Average True Range), to move between £9.02 and £10.69, which gives a possible trading interval of +/-£0.83 (+/-8.46%) up or down from last closing price. If Leverage Shares 3x Long Silver Etp Securities takes out the full calculated possible swing range there will be an estimated 16.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £9.79 (0.69%) than the resistance at £9.95 (0.93%), 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 Long Silver Etp Securities ETF A Buy?

The Leverage Shares 3x Long Silver Etp ETF holds several negative signals and despite the positive trend, we believe Leverage Shares 3x Long Silver Etp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.551 Sell Candidate Unchanged

Predicted Opening Price for Leverage Shares 3x Long Silver Etp Securities of Wednesday, June 26, 2024

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