ProShares UltraShort 20+ Year Treasury ETF Forecast
Green day on Friday for ProShares UltraShort 20+ Year Treasury ETF after gaining 1.24%
(Updated on May 17, 2024)
The ProShares UltraShort 20+ Year Treasury ETF price gained 1.24% on the last trading day (Friday, 17th May 2024), rising from $34.80 to $35.23. During the last trading day the ETF fluctuated 0.94% from a day low at $34.97 to a day high of $35.30. The price has fallen in 6 of the last 10 days and is down by -3% for this period. Volume fell on the last day by -295 thousand shares and in total, 463 thousand shares were bought and sold for approximately $16.31 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $34.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 11.16% during the next 3 months and, with a 90% probability hold a price between $38.67 and $43.68 at the end of this 3-month period.
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TBT Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares UltraShort 20+ Year Treasury ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $35.50 and $36.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -7.97%. 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 UltraShort 20+ Year Treasury ETF
ProShares UltraShort 20+ Year Treasury finds support from accumulated volume at $34.65 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 $0.330 between high and low, or 0.94%. For the last week, the ETF has had daily average volatility of 1.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TBT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ProShares UltraShort 20+ Year Treasury to open at $35.17, and during the day (based on 14 day Average True Range), to move between $34.54 and $35.92, which gives a possible trading interval of +/-$0.689 (+/-1.96%) up or down from last closing price. If ProShares UltraShort 20+ Year Treasury takes out the full calculated possible swing range there will be an estimated 3.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.65 (1.65%) than the resistance at $36.06 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares UltraShort 20+ Year Treasury ETF A Buy?
The ProShares UltraShort 20+ Year Treasury ETF holds several negative signals and despite the positive trend, we believe ProShares UltraShort 20+ Year Treasury will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.681 Sell Candidate Unchanged
Predicted Opening Price for ProShares UltraShort 20+ Year Treasury of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $35.17 ( 0.180%) | $35.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TBT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.50 | 0.757 % | |
| R2 | 35.37 | 0.399 % | ||
| R1 | 35.29 | 0.178 % | ||
| Current price: | 35.23 | |||
| Support | S1 | 35.04 | -0.538 % | |
| S2 | 34.96 | -0.759 % | ||
| S3 | 34.84 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.28 | 8.66 % | |
| R2 | 37.18 | 5.54 % | ||
| R1 | 36.06 | 2.36 % | ||
| Current price | 35.23 | |||
| Support | S1 | 34.65 | -1.65% | |
| S2 | 34.00 | -3.49% | ||
| S3 | 33.56 | -4.74% |
TBT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.361 | 1.09% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.523 | 1.76% |
| 3 | Sep 19, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.311 | 0.790% |
| 4 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | $0.343 | 1.18% |
| 5 | Mar 21, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.327 | 1.12% |
FAQ
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