PROSHARES ULTRAPRO DOW30 PROSHARES ETF Forecast
Stronger technical forecast for PROSHARES ULTRAPRO DOW30 PROSHARES ETF price after Wednesday trading.
(Updated on Apr 24, 2024)
The PROSHARES ULTRAPRO DOW30 PROSHARES ETF price fell by -0.483% on the last day (Wednesday, 24th Apr 2024) from $76.59 to $76.22. During the last trading day the ETF fluctuated 1.92% from a day low at $75.34 to a day high of $76.79. The price has been going up and down for this period, and there has been a -0.48% loss for the last 2 weeks. Volume has increased on the last day by 162 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, 2 million shares were bought and sold for approximately $172.57 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PROSHARES ULTRAPRO DOW30 PROSHARES ETF with a 90% probability to be traded between $70.62 and $83.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UDOW Signals & Forecast
There are mixed signals in the ETF today. The PROSHARES ULTRAPRO DOW30 PROSHARES 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 $79.02. On a fall, the ETF will find some support from the short-term average at $74.05. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.63%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for PROSHARES ULTRAPRO DOW30 PROSHARES ETF
PROSHARES ULTRAPRO DOW30 PROSHARES finds support from accumulated volume at $73.53 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 $1.45 between high and low, or 1.92%. For the last week, the ETF has had daily average volatility of 2.67%.
Our recommended stop-loss: $73.62 (-3.41%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (UDOW) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PROSHARES ULTRAPRO DOW30 PROSHARES ULTRAPRO DOW30 to open at $76.12, and during the day (based on 14 day Average True Range), to move between $73.90 and $78.54, which gives a possible trading interval of +/-$2.32 (+/-3.04%) up or down from last closing price. If PROSHARES ULTRAPRO DOW30 PROSHARES ULTRAPRO DOW30 takes out the full calculated possible swing range there will be an estimated 6.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.59 (0.49%) than the support at $73.53 (3.53%), 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 ULTRAPRO DOW30 PROSHARES ULTRAPRO DOW30 ETF A Buy?
PROSHARES ULTRAPRO DOW30 PROSHARES 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.162 Hold/Accumulate Upgraded
Predicted Opening Price for PROSHARES ULTRAPRO DOW30 PROSHARES ULTRAPRO DOW30 of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $76.12 ( 0.136%) | $76.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UDOW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.57 | 1.77 % | |
| R2 | 77.01 | 1.04 % | ||
| R1 | 76.67 | 0.591 % | ||
| Current price: | 76.22 | |||
| Support | S1 | 75.56 | -0.86 % | |
| S2 | 75.22 | -1.31 % | ||
| S3 | 74.67 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.73 | 5.92 % | |
| R2 | 79.16 | 3.86 % | ||
| R1 | 76.59 | 0.485 % | ||
| Current price | 76.22 | |||
| Support | S1 | 73.53 | -3.53% | |
| S2 | 72.19 | -5.29% | ||
| S3 | 72.16 | -5.33% |
UDOW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.131 | 0.155% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.145 | 0.204% |
| 3 | Jan 31, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.155 | 0.287% |
| 4 | Jan 31, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.207 | 0.362% |
| 5 | Jan 31, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.199 | 0.376% |
FAQ
Click here for our free guide on how to buy PROSHARES ULTRAPRO DOW30 PROSHARES ULTRAPRO DOW30 ETF.
