ProShares UltraPro Short Russell2000 ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
ProShares UltraPro Short Russell2000 ETF price down 0.670% on Wednesday
(Updated on May 01, 2024)
The ProShares UltraPro Short Russell2000 ETF price fell by -0.670% on the last day (Wednesday, 1st May 2024) from $31.35 to $31.14. During the last trading day the ETF fluctuated 8.66% from a day low at $29.20 to a day high of $31.73. The price has fallen in 6 of the last 10 days and is down by -4.77% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $85.52 million.
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 -2.86% during the next 3 months and, with a 90% probability hold a price between $24.30 and $31.83 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SRTY Signals & Forecast
The ProShares UltraPro Short Russell2000 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $30.57 and $29.03. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -5.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for ProShares UltraPro Short Russell2000 ETF
ProShares UltraPro Short Russell2000 finds support from accumulated volume at $30.48 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 a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $2.53 between high and low, or 8.66%. For the last week, the ETF has had daily average volatility of 4.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRTY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ProShares UltraPro Short Russell2000 to open at $30.69, and during the day (based on 14 day Average True Range), to move between $29.55 and $32.73, which gives a possible trading interval of +/-$1.59 (+/-5.10%) up or down from last closing price. If ProShares UltraPro Short Russell2000 takes out the full calculated possible swing range there will be an estimated 10.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.70 (1.80%) than the support at $30.48 (2.12%), 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 ProShares UltraPro Short Russell2000 ETF A Buy?
ProShares UltraPro Short Russell2000 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.
Current score: -1.237 Sell Candidate Unchanged
Predicted Opening Price for ProShares UltraPro Short Russell2000 of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $30.69 ( 1.45%) | $31.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.22 | 6.68 % | |
| R2 | 32.25 | 3.58 % | ||
| R1 | 31.66 | 1.66 % | ||
| Current price: | 31.14 | |||
| Support | S1 | 29.72 | -4.55 % | |
| S2 | 29.13 | -6.47 % | ||
| S3 | 28.16 | -9.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.91 | 5.68 % | |
| R2 | 32.73 | 5.11 % | ||
| R1 | 31.70 | 1.80 % | ||
| Current price | 31.14 | |||
| Support | S1 | 30.48 | -2.12% | |
| S2 | 29.28 | -5.97% | ||
| S3 | 29.03 | -6.78% |
SRTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.374 | 1.46% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.487 | 1.51% |
| 3 | Jan 06, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.374 | 0.781% |
| 4 | Jan 06, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.355 | 0.84% |
| 5 | Jan 06, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.275 | 0.543% |
FAQ
Click here for our free guide on how to buy ProShares UltraPro Short Russell2000 ETF.
