ProShares UltraPro Short 20+ Year ETF Forecast
Red day on Tuesday for ProShares UltraPro Short 20+ Year
(Updated on Jun 25, 2024)
The ProShares UltraPro Short 20+ Year ETF price fell by -0.663% on the last day (Tuesday, 25th Jun 2024) from $69.07 to $68.61. During the last trading day the ETF fluctuated 1.77% from a day low at $68.52 to a day high of $69.73. The price has fallen in 7 of the last 10 days and is down by -10.72% for this period. Volume has increased on the last day by 3 thousand 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, 6 thousand shares were bought and sold for approximately $380.52 thousand.
The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $67.52 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -7.64% during the next 3 months and, with a 90% probability hold a price between $62.37 and $75.94 at the end of this 3-month period.
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TTT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.633%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares UltraPro Short 20+ Year 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 $69.09 and $74.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ProShares UltraPro Short 20+ Year gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for ProShares UltraPro Short 20+ Year ETF
ProShares UltraPro Short 20+ Year finds support from accumulated volume at $68.27 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 $1.21 between high and low, or 1.77%. For the last week, the ETF has had daily average volatility of 2.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TTT) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect ProShares UltraPro Short 20+ Year Treasury to open at $68.95, and during the day (based on 14 day Average True Range), to move between $66.36 and $70.86, which gives a possible trading interval of +/-$2.25 (+/-3.28%) up or down from last closing price. If ProShares UltraPro Short 20+ Year Treasury takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.27 (0.50%) than the resistance at $74.47 (8.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares UltraPro Short 20+ Year Treasury ETF A Buy?
ProShares UltraPro Short 20+ Year holds several negative signals and is within a 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: -1.845 Sell Candidate Unchanged
Predicted Opening Price for ProShares UltraPro Short 20+ Year Treasury of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $68.95 ( 0.499%) | $68.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.16 | 2.26% |
| R2 | 69.70 | 1.59% |
| R1 | 69.42 | 1.17% |
| Price | 68.61 | |
| S1 | 68.49 | -0.175% |
| S2 | 68.21 | -0.591% |
| S3 | 67.74 | -1.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 82.89 | 20.81% |
| R2 | 74.85 | 9.09% |
| R1 | 74.47 | 8.54% |
| Price | 68.61 | |
| S1 | 68.27 | -0.498% |
| S2 | 68.18 | -0.629% |
| S3 | 0 | - |
TTT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $8.67 | 14.48% |
| 2 | Jan 06, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.145 | 0.143% |
| 3 | Jan 06, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.339 | 0.525% |
| 4 | Jan 06, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.235 | 0.365% |
| 5 | Jun 24, 2022 | Dec 22, 2022 | Dec 30, 2022 | $0.263 | 0.341% |
FAQ
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