Leverage Shares Public Limited ETF Forecast

Red day on Friday for Leverage Shares Public Limited ETF after losing 0%
(Updated on Jun 28, 2024)

SNIO.L Signals & Forecast

The Leverage Shares Public Limited ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately £22.57. On a fall, the ETF will find some support from the long-term average at approximately £19.83. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 21, 2024 with a target of £21.86. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.

Support, Risk & Stop-loss for Leverage Shares Public Limited ETF

On the downside, the ETF finds support just below today's level from accumulated volume at £18.43 and £17.55. 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 Public Limited finds support just below today's level at £18.43. If this is broken, then the next support from accumulated volume will be at £17.55 and £17.04.

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 4.78%

Our recommended stop-loss: £18.80 (-5.94%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (SNIO.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Leverage Shares Public Limited to open at £19.99, and during the day (based on 14 day Average True Range), to move between £17.53 and £22.45, which gives a possible trading interval of +/-£2.46 (+/-12.32%) up or down from last closing price. If Leverage Shares Public Limited takes out the full calculated possible swing range there will be an estimated 24.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £18.43 (7.79%) than the resistance at £21.60 (8.05%), 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 Public Limited ETF A Buy?

Leverage Shares Public Limited 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 Public Limited of Monday, July 1, 2024

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