PROSHARES ULTRA UTILITIES PROSHARES ETF Forecast
Red day on Thursday for PROSHARES ULTRA UTILITIES PROSHARES ETF after losing 0.0727%
(Updated on Jun 27, 2024)
The PROSHARES ULTRA UTILITIES PROSHARES ETF price fell by -0.0727% on the last day (Thursday, 27th Jun 2024) from $61.04 to $61.00. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.88% from a day low at $60.47 to a day high of $61.00. The price has fallen in 7 of the last 10 days and is down by -2.54% for this period. 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 -787 shares and in total, 416 shares were bought and sold for approximately $25.38 thousand.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $60.60 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 16.52% during the next 3 months and, with a 90% probability hold a price between $70.61 and $84.14 at the end of this 3-month period.
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UPW Signals & Forecast
There are few to no technical positive signals at the moment. The PROSHARES ULTRA UTILITIES PROSHARES 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 $61.62 and $64.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -10.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 UTILITIES PROSHARES ETF
PROSHARES ULTRA UTILITIES PROSHARES finds support from accumulated volume at $59.66 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 $0.530 between high and low, or 0.88%. For the last week the ETF has had daily average volatility of 1.35%.
Our recommended stop-loss: $57.19 (-6.24%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (UPW) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES to open at $60.82, and during the day (based on 14 day Average True Range), to move between $59.77 and $62.23, which gives a possible trading interval of +/-$1.23 (+/-2.01%) up or down from last closing price. If PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $61.06 (0.10%) than the support at $59.66 (2.20%), 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 UTILITIES PROSHARES ULTRA UTILITIES ETF A Buy?
PROSHARES ULTRA UTILITIES PROSHARES holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.518 Hold/Accumulate Unchanged
Predicted Opening Price for PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $60.82 ( 0.290%) | $61.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UPW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.35 | 0.579% |
| R2 | 61.15 | 0.247% |
| R1 | 61.03 | 0.0423% |
| Price | 61.00 | |
| S1 | 60.62 | -0.622% |
| S2 | 60.50 | -0.83% |
| S3 | 60.29 | -1.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.42 | 7.24% |
| R2 | 63.44 | 4.00% |
| R1 | 61.06 | 0.0982% |
| Price | 61.00 | |
| S1 | 59.66 | -2.20% |
| S2 | 57.75 | -5.33% |
| S3 | 56.65 | -7.13% |
UPW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.255 | 0.462% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.367 | 0.715% |
| 3 | Jan 31, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.196 | 0.402% |
| 4 | Jan 31, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.366 | 0.639% |
| 5 | Jan 31, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.342 | 0.551% |
FAQ
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