Leverage Shares 3x Short Silver Etc ETF Forecast
Stronger technical forecast for Leverage Shares 3x Short Silver Etc ETF price after Friday trading.
(Updated on Jun 28, 2024)
No changes to the price of Leverage Shares 3x Short Silver Etc ETF on the last trading day (Friday, 28th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at £1.78 to a day high of £1.78. The price has risen in 4 of the last 10 days and is up by 5.54% over the past 2 weeks.
The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £1.96 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -33.90% during the next 3 months and, with a 90% probability hold a price between £0.625 and £1.30 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.
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SLVS.L Signals & Forecast
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. The Leverage Shares 3x Short Silver Etc ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £1.87. On a fall, the ETF will find some support from the short-term average at £1.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Leverage Shares 3x Short Silver Etc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at £1.65 and £1.62. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Leverage Shares 3x Short Silver Etc finds support just below today's level at £1.65. If this is broken, then the next support from accumulated volume will be at £1.62 and £1.46.
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 1.88%
Our recommended stop-loss: £1.71 (-3.64%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SLVS.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Leverage Shares 3x Short Silver Etc to open at £1.78, and during the day (based on 14 day Average True Range), to move between £1.67 and £1.89, which gives a possible trading interval of +/-£0.111 (+/-6.26%) up or down from last closing price. If Leverage Shares 3x Short Silver Etc takes out the full calculated possible swing range there will be an estimated 12.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1.65 (7.12%) than the resistance at £2.08 (17.08%), 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 Silver Etc ETF A Buy?
Leverage Shares 3x Short Silver Etc 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Silver Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1.78 ( 0.00000000%) | £1.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLVS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.78 | 0.00000000% |
| R2 | 1.78 | 0.00000000% |
| R1 | 1.78 | 0.00000000% |
| Price | 1.78 | |
| S1 | 1.78 | 0.00000000% |
| S2 | 1.78 | 0.00000000% |
| S3 | 1.78 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.16 | 21.59% |
| R2 | 2.12 | 19.34% |
| R1 | 2.08 | 17.08% |
| Price | 1.78 | |
| S1 | 1.65 | -7.12% |
| S2 | 1.62 | -8.89% |
| S3 | 1.46 | -17.96% |
FAQ
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