FTAI is up +138.36% since Oct ’23 pick Unlock All Top Buy Picks

ProShares Ultra S&P500 ETF Forecast

$77.65
+1.32 (+1.73%)
At Close: May 31, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of SSO
Powered by GPT-4o
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Stronger technical forecast for ProShares Ultra S&P500 ETF price after Friday trading.
(Updated on May 31, 2024)

Buy or Hold candidate since May 24, 2024 Loss -0.98% PDF

The ProShares Ultra S&P500 ETF price gained 1.73% on the last trading day (Friday, 31st May 2024), rising from $76.33 to $77.65. During the last trading day the ETF fluctuated 3.58% from a day low at $75.08 to a day high of $77.76. The price has risen in 6 of the last 10 days but is still down by -0.83% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $271.52 million.

The ETF lies in the upper part of a wide and weak rising 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 $79.27 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 2.42% during the next 3 months and, with a 90% probability hold a price between $71.67 and $81.19 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.

SSO Signals & Forecast

The ProShares Ultra S&P500 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 $77.76. On a fall, the ETF will find some support from the long-term average at approximately $74.65. 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. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 21, 2024, and so far it has fallen -1.78%. 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).

Support, Risk & Stop-loss for ProShares Ultra S&P500 ETF

ProShares Ultra S&P500 finds support from accumulated volume at $74.46 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 $2.69 between high and low, or 3.58%. For the last week, the ETF has had daily average volatility of 1.67%.

Our recommended stop-loss: $74.64 (-3.88%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (SSO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect ProShares Ultra S&P500 to open at $76.83, and during the day (based on 14 day Average True Range), to move between $76.22 and $79.08, which gives a possible trading interval of +/-$1.43 (+/-1.84%) up or down from last closing price. If ProShares Ultra S&P500 takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $78.50 (1.09%) than the support at $74.46 (4.11%), 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 Ultra S&P500 ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ProShares Ultra S&P500 ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.073 Buy Candidate Upgraded

Predicted Opening Price for ProShares Ultra S&P500 of Monday, June 3, 2024

Fair opening price June 3, 2024 Current price
$76.83 ( 1.06%) $77.65

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

Trading levels for SSO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 79.51 2.40 %
R2 78.49 1.08 %
R1 77.85 0.263 %
Current price: 77.65
Support S1 75.80 -2.38 %
S2 75.17 -3.20 %
S3 74.14 -4.52 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 78.67 1.31 %
R2 78.55 1.16 %
R1 78.50 1.09 %
Current price 77.65
Support S1 74.46 -4.11%
S2 72.04 -7.22%
S3 71.53 -7.88%

SSO Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 20, 2024 Mar 20, 2024 Mar 27, 2024 $0.178 0.229%
2 Dec 20, 2023 Dec 20, 2023 Dec 20, 2023 $0.118 0.187%
3 Jun 24, 2022 Dec 22, 2022 Dec 30, 2022 $0.181 0.407%
4 Mar 22, 2022 Mar 23, 2022 Mar 30, 2022 $0.0400 0.0591%
5 Jan 22, 2021 Sep 22, 2021 Sep 29, 2021 $0.0190 0.0309%

FAQ

What is the symbol for ProShares Ultra S&P500 ETF and on which exchange is it traded?
The symbol for ProShares Ultra S&P500 is SSO and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell ProShares Ultra S&P500 ETF?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ProShares Ultra S&P500 ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy ProShares Ultra S&P500 ETF?
ProShares Ultra S&P500 ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ProShares Ultra S&P500 ETF.

What's the current price of ProShares Ultra S&P500 ETF?
As of the end of day on the May 31, 2024, the price of an ProShares Ultra S&P500 (SSO) share was $77.65.

What is the 52-week high and low for ProShares Ultra S&P500 ETF?
The 52-week high for ProShares Ultra S&P500 ETF is $79.50 and the 52-week low is $48.59.

What is the market capitalization of ProShares Ultra S&P500 ETF?
As of the May 31, 2024, the market capitalization of ProShares Ultra S&P500 is 3.921B.
Click to get the best stock tips daily for free!

About ProShares Ultra S&P500

The fund invests in financial instruments that the advisors believe, in combination, should produce daily returns consistent with the fund's investment objective. The index is a measure of large-cap U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected through a process that factors in criteria such as liquidity, price, market capitali... SSO Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT