T-Rex 2X Inverse Tesla Daily Target ETF Forecast
Big movements in T-Rex 2X Inverse Tesla Daily Target ETF price on Tuesday moving 15.82% between high and low
(Updated on May 21, 2024)
The T-Rex 2X Inverse Tesla Daily Target ETF price fell by -13.36% on the last day (Tuesday, 21st May 2024) from $32.86 to $28.47. During the last trading day the ETF fluctuated 15.82% from a day low at $28.41 to a day high of $32.90. The price has been going up and down for this period, and there has been a -11.2% loss for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $50.92 million.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $26.32 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -5.85% during the next 3 months and, with a 90% probability hold a price between $24.78 and $53.70 at the end of this 3-month period.
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TSLZ Signals & Forecast
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. The T-Rex 2X Inverse Tesla Daily Target 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 $32.21 and $38.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -51.11%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for T-Rex 2X Inverse Tesla Daily Target ETF
T-Rex 2X Inverse Tesla Daily Target finds support from accumulated volume at $27.23 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 $4.49 between high and low, or 15.82%. For the last week, the ETF has had daily average volatility of 8.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TSLZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect T-Rex 2X Inverse Tesla Daily Target ETF to open at $29.92, and during the day (based on 14 day Average True Range), to move between $25.06 and $31.88, which gives a possible trading interval of +/-$3.41 (+/-11.98%) up or down from last closing price. If T-Rex 2X Inverse Tesla Daily Target ETF takes out the full calculated possible swing range there will be an estimated 23.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.23 (4.36%) than the resistance at $30.28 (6.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is T-Rex 2X Inverse Tesla Daily Target ETF ETF A Buy?
T-Rex 2X Inverse Tesla Daily Target holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -5.766 Strong Sell Candidate Unchanged
Predicted Opening Price for T-Rex 2X Inverse Tesla Daily Target ETF of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
$29.92 ( 5.11%) | $28.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSLZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.42 | 20.90 % | |
R2 | 32.70 | 14.87 % | ||
R1 | 31.64 | 11.14 % | ||
Current price: | 28.47 | |||
Support | S1 | 28.21 | -0.92 % | |
S2 | 27.15 | -4.65 % | ||
S3 | 25.43 | -10.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.19 | 16.58 % | |
R2 | 31.92 | 12.12 % | ||
R1 | 30.28 | 6.36 % | ||
Current price | 28.47 | |||
Support | S1 | 27.23 | -4.36% | |
S2 | 0 | . | ||
S3 | 0 | . |
TSLZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 26, 2023 | Dec 28, 2023 | $2.76 | 12.59% |
FAQ
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