ETRACS 2xMonthly Pay Leveraged US Small ETF Forecast

ETRACS 2xMonthly Pay Leveraged US Small ETF downgraded to Sell Candidate
(Updated on May 03, 2024)

SMHB 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 ETRACS 2xMonthly Pay Leveraged US Small 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 $6.21 and $6.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.36%. Further fall is indicated until a new bottom pivot has been found. ETRACS 2xMonthly Pay Leveraged US Small 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 ETRACS 2xMonthly Pay Leveraged US Small ETF

ETRACS 2xMonthly Pay Leveraged US Small finds support from accumulated volume at $6.04 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.295 between high and low, or 4.80%. For the last week, the ETF has had daily average volatility of 3.24%.

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

Trading Expectations (SMHB) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN to open at $6.24, and during the day (based on 14 day Average True Range), to move between $5.89 and $6.39, which gives a possible trading interval of +/-$0.246 (+/-4.01%) up or down from last closing price. If ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN takes out the full calculated possible swing range there will be an estimated 8.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.16 (0.33%) than the support at $6.04 (1.63%), 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 ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN ETF A Buy?

The ETRACS 2xMonthly Pay Leveraged US Small ETF holds several negative signals and despite the positive trend, we believe ETRACS 2xMonthly Pay Leveraged US Small will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.

Current score: -3.152 Sell Candidate Downgraded

Predicted Opening Price for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN of Monday, May 6, 2024

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