Graniteshares 1.75x Long Tsla Daily Etf ETF Forecast
Green day on Friday for Graniteshares 1.75x Long Tsla Daily Etf ETF after gaining 0.577%
(Updated on Jun 28, 2024)
The Graniteshares 1.75x Long Tsla Daily Etf ETF price gained 0.577% on the last trading day (Friday, 28th Jun 2024), rising from $13.87 to $13.95. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 8.12% from a day low at $13.57 to a day high of $14.67. The price has risen in 6 of the last 10 days and is up by 15.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 522 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $15.32 million.
The ETF lies in the middle of a very wide and strong 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 12.51% during the next 3 months and, with a 90% probability hold a price between $10.22 and $17.13 at the end of this 3-month period.
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TSLR Signals & Forecast
Mostly positive signals in the chart today. 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 $12.82 and $11.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 33.49%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Graniteshares 1.75x Long Tsla Daily Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $12.61 and $12.53. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Graniteshares 1.75x Long Tsla Daily Etf finds support just below today's level at $12.61. If this is broken, then the next support from accumulated volume will be at $12.53 and $12.03.
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 $1.10 between high and low, or 8.12%. For the last week, the ETF has had daily average volatility of 7.50%.
Our recommended stop-loss: $13.44 (-3.66%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (TSLR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Graniteshares 1.75x Long Tsla Daily Etf to open at $14.06, and during the day (based on 14 day Average True Range), to move between $13.03 and $14.87, which gives a possible trading interval of +/-$0.92 (+/-6.62%) 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 13.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.08 (0.93%) than the support at $12.61 (9.61%), 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?
Graniteshares 1.75x Long Tsla Daily Etf holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.771 Strong Buy Candidate Unchanged
Predicted Opening Price for Graniteshares 1.75x Long Tsla Daily Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $14.06 ( 0.81%) | $13.95 |
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 | 15.16 | 8.71% |
| R2 | 14.74 | 5.69% |
| R1 | 14.48 | 3.83% |
| Price | 13.95 | |
| S1 | 13.64 | -2.21% |
| S2 | 13.38 | -4.07% |
| S3 | 12.96 | -7.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 14.08 | 0.93% |
| Price | 13.95 | |
| S1 | 12.61 | -9.61% |
| S2 | 12.53 | -10.18% |
| S3 | 12.03 | -13.76% |
FAQ
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