Leverage Shares -3x Short Us 500 Etc ETF Forecast
Leverage Shares -3x Short Us 500 Etc ETF downgraded to Sell Candidate
(Updated on Jun 27, 2024)
No changes to the price of Leverage Shares -3x Short Us 500 Etc ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at £2.03 to a day high of £2.03. The price has fallen in 6 of the last 10 days and is down by -2.2% for this period.
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 -17.79% during the next 3 months and, with a 90% probability hold a price between £1.49 and £1.89 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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SPYS.L Signals & Forecast
There are mixed signals in the ETF today. The Leverage Shares -3x Short Us 500 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 £2.17. On a fall, the ETF will find some support from the short-term average at £2.01. 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 Tuesday, June 25, 2024, and so far it has fallen -0.339%. 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 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 Us 500 Etc ETF
Leverage Shares -3x Short Us 500 Etc finds support from accumulated volume at £2.02 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 1.99%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPYS.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Leverage Shares -3x Short Us 500 Etc to open at £2.03, and during the day (based on 14 day Average True Range), to move between £1.97 and £2.09, which gives a possible trading interval of +/-£0.0595 (+/-2.93%) up or down from last closing price. If Leverage Shares -3x Short Us 500 Etc takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.02 (0.44%) than the resistance at £2.20 (8.29%), 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 Us 500 Etc ETF A Buy?
Leverage Shares -3x Short Us 500 Etc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -4.111 Sell Candidate Downgraded
Predicted Opening Price for Leverage Shares -3x Short Us 500 Etc of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
£2.03 ( 0%) | £2.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPYS.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.03 | - |
R2 | 2.03 | - |
R1 | 2.03 | - |
Price | 2.03 | |
S1 | 2.03 | - |
S2 | 2.03 | - |
S3 | 2.03 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.27 | 11.51% |
R2 | 2.26 | 11.25% |
R1 | 2.20 | 8.29% |
Price | 2.03 | |
S1 | 2.02 | -0.438% |
S2 | 2.01 | -0.82% |
S3 | 1.90 | -6.23% |
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