T-Rex 2X Long Tesla Daily Target ETF Forecast
T-Rex 2X Long Tesla Daily Target ETF price ended at $10.95 on Wednesday, after losing 3.86%.
(Updated on May 01, 2024)
The T-Rex 2X Long Tesla Daily Target ETF price fell by -3.86% on the last day (Wednesday, 1st May 2024) from $11.39 to $10.95. During the last trading day the ETF fluctuated 7.80% from a day low at $10.82 to a day high of $11.67. The price has fallen in 6 of the last 10 days but is still up by 28.22% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -371 thousand shares and in total, 5 million shares were bought and sold for approximately $54.03 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -30.82% during the next 3 months and, with a 90% probability hold a price between $4.46 and $8.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TSLT Signals & Forecast
The T-Rex 2X Long Tesla Daily Target 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 $10.20 and $10.15. 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 Monday, April 29, 2024, and so far it has fallen -14.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for T-Rex 2X Long Tesla Daily Target ETF
T-Rex 2X Long Tesla Daily Target finds support from accumulated volume at $10.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.84 between high and low, or 7.80%. For the last week, the ETF has had daily average volatility of 10.92%.
Our recommended stop-loss: $10.29 (-6.00%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TSLT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect T-Rex 2X Long Tesla Daily Target ETF to open at $11.15, and during the day (based on 14 day Average True Range), to move between $9.79 and $12.11, which gives a possible trading interval of +/-$1.16 (+/-10.63%) up or down from last closing price. If T-Rex 2X Long Tesla Daily Target ETF takes out the full calculated possible swing range there will be an estimated 21.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.69 (2.37%) than the resistance at $12.78 (16.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is T-Rex 2X Long Tesla Daily Target ETF ETF A Buy?
T-Rex 2X Long Tesla Daily Target 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: 0.557 Hold/Accumulate Unchanged
Predicted Opening Price for T-Rex 2X Long Tesla Daily Target ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $11.15 ( 1.78%) | $10.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.99 | 9.49 % | |
| R2 | 11.67 | 6.55 % | ||
| R1 | 11.47 | 4.73 % | ||
| Current price: | 10.95 | |||
| Support | S1 | 10.82 | -1.16 % | |
| S2 | 10.62 | -2.98 % | ||
| S3 | 10.30 | -5.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.40 | 22.37 % | |
| R2 | 13.15 | 20.09 % | ||
| R1 | 12.78 | 16.71 % | ||
| Current price | 10.95 | |||
| Support | S1 | 10.69 | -2.37% | |
| S2 | 10.53 | -3.84% | ||
| S3 | 9.76 | -10.87% |
FAQ
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