Graniteshares 1.75x Long Tsla Daily Etf ETF Forecast
Graniteshares 1.75x Long Tsla Daily Etf ETF price up more than 5.12% on Tuesday
(Updated on Jun 25, 2024)
The Graniteshares 1.75x Long Tsla Daily Etf ETF price gained 5.12% on the last trading day (Tuesday, 25th Jun 2024), rising from $11.92 to $12.53. During the last trading day the ETF fluctuated 6.14% from a day low at $11.88 to a day high of $12.61. The price has been going up and down for this period, and there has been a 14.74% gain for the last 2 weeks. Volume fell on the last day by -53 thousand shares and in total, 481 thousand shares were bought and sold for approximately $6.03 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 middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.74% during the next 3 months and, with a 90% probability hold a price between $8.66 and $15.18 at the end of this 3-month period.
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TSLR Signals & Forecast
The Graniteshares 1.75x Long Tsla Daily Etf 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 $12.06 and $11.52. 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). 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -1.73%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Graniteshares 1.75x Long Tsla Daily Etf ETF
Graniteshares 1.75x Long Tsla Daily Etf finds support from accumulated volume at $12.03 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 $0.730 between high and low, or 6.14%. For the last week, the ETF has had daily average volatility of 5.28%.
Our recommended stop-loss: $12.04 (-3.92%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (TSLR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Graniteshares 1.75x Long Tsla Daily Etf to open at $12.34, and during the day (based on 14 day Average True Range), to move between $11.65 and $13.41, which gives a possible trading interval of +/-$0.88 (+/-7.05%) up or down from last closing price. If Graniteshares 1.75x Long Tsla Daily Etf takes out the full calculated possible swing range there will be an estimated 14.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.54 (0.08%) than the support at $12.03 (3.99%), 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 Graniteshares 1.75x Long Tsla Daily Etf 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 Graniteshares 1.75x Long Tsla Daily Etf ETF to perform well in the short-term.
Current score: 4.059 Buy Candidate Unchanged
Predicted Opening Price for Graniteshares 1.75x Long Tsla Daily Etf of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$12.34 ( 1.52%) | $12.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSLR
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 13.07 | 4.31% |
R2 | 12.79 | 2.08% |
R1 | 12.62 | 0.709% |
Price | 12.53 | |
S1 | 12.06 | -3.74% |
S2 | 11.89 | -5.12% |
S3 | 11.61 | -7.34% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.08 | 12.37% |
R2 | 12.61 | 0.638% |
R1 | 12.54 | 0.0798% |
Price | 12.53 | |
S1 | 12.03 | -3.99% |
S2 | 11.03 | -11.97% |
S3 | 10.04 | -19.87% |
FAQ
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