PROSHARES ULTRA MSCI BRAZIL CAPPED ETF Forecast

Weaker technical forecast for PROSHARES ULTRA MSCI BRAZIL CAPPED as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)

UBR Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 4.03%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The PROSHARES ULTRA MSCI BRAZIL CAPPED ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $23.89. On a fall, the ETF will find some support from the short-term average at $20.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for PROSHARES ULTRA MSCI BRAZIL CAPPED ETF

PROSHARES ULTRA MSCI BRAZIL CAPPED finds support from accumulated volume at $20.68 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.270 between high and low, or 1.27%. For the last week the ETF has had daily average volatility of 1.21%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (UBR) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect PROSHARES ULTRA MSCI BRAZIL CAPPED PROSHARES ULTRA MSCI BRAZIL CAPPED to open at $21.27, and during the day (based on 14 day Average True Range), to move between $20.53 and $21.83, which gives a possible trading interval of +/-$0.652 (+/-3.08%) up or down from last closing price. If PROSHARES ULTRA MSCI BRAZIL CAPPED PROSHARES ULTRA MSCI BRAZIL CAPPED takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $21.46 (1.32%) than the support at $20.68 (2.36%), 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 PROSHARES ULTRA MSCI BRAZIL CAPPED PROSHARES ULTRA MSCI BRAZIL CAPPED ETF A Buy?

PROSHARES ULTRA MSCI BRAZIL CAPPED holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.881 Sell Candidate Downgraded

Predicted Opening Price for PROSHARES ULTRA MSCI BRAZIL CAPPED PROSHARES ULTRA MSCI BRAZIL CAPPED of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.