ProShares DJ Brookfield Global ETF Forecast

ProShares DJ Brookfield Global ETF price up 0.127% on Tuesday
(Updated on May 21, 2024)

TOLZ Signals & Forecast

The ProShares DJ Brookfield Global 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 $47.22 and $45.39. 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 Friday, May 17, 2024, and so far it has fallen -0.211%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 23, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ProShares DJ Brookfield Global ETF

ProShares DJ Brookfield Global finds support from accumulated volume at $46.68 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 controlled movements and therefore the general risk is considered 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 $0.0437 between high and low, or 0.0922%. For the last week the ETF has had daily average volatility of 0.327%.

The ProShares DJ Brookfield Global ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $46.15 (-2.64%) (This ETF has low daily movements and this gives low risk. The RSI14 is 94 and this increases the risk substantially. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (TOLZ) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect ProShares DJ Brookfield Global Infrastructure ETF to open at $47.41, and during the day (based on 14 day Average True Range), to move between $47.06 and $47.74, which gives a possible trading interval of +/-$0.337 (+/-0.71%) up or down from last closing price. If ProShares DJ Brookfield Global Infrastructure ETF takes out the full calculated possible swing range there will be an estimated 1.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $47.44 (0.08%) than the support at $46.68 (1.52%), 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 DJ Brookfield Global Infrastructure ETF ETF A Buy?

ProShares DJ Brookfield Global 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: 0.860 Hold/Accumulate Unchanged

Predicted Opening Price for ProShares DJ Brookfield Global Infrastructure ETF of Wednesday, May 22, 2024

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