PROSHARES ULTRA UTILITIES PROSHARES ETF Forecast
PROSHARES ULTRA UTILITIES PROSHARES ETF price down 2.70% on Friday
(Updated on Jun 28, 2024)
The PROSHARES ULTRA UTILITIES PROSHARES ETF price fell by -2.70% on the last day (Friday, 28th Jun 2024) from $61.00 to $59.35. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 2.07% from a day low at $59.35 to a day high of $60.58. The price has fallen in 8 of the last 10 days and is down by -5.5% for this period. Volume has increased on the last day by 940 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, 1 thousand shares were bought and sold for approximately $80.48 thousand.
Given the current short-term trend, the ETF is expected to rise 15.32% during the next 3 months and, with a 90% probability hold a price between $68.44 and $83.13 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $61.41 and $64.26. 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 -12.55%. 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). PROSHARES ULTRA UTILITIES PROSHARES 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". 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 $59.25 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 $1.23 between high and low, or 2.07%. For the last week, the ETF has had daily average volatility of 1.76%.
Our recommended stop-loss: $56.23 (-5.26%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (UPW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES to open at $59.76, and during the day (based on 14 day Average True Range), to move between $58.09 and $60.61, which gives a possible trading interval of +/-$1.26 (+/-2.12%) 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 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.25 (0.17%) than the resistance at $59.66 (0.52%), 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 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: -0.441 Hold/Accumulate Unchanged
Predicted Opening Price for PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $59.76 ( 0.691%) | $59.35 |
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 | 60.99 | 2.76% |
| R2 | 60.52 | 1.97% |
| R1 | 60.23 | 1.48% |
| Price | 59.35 | |
| S1 | 59.29 | -0.101% |
| S2 | 59.00 | -0.590% |
| S3 | 58.53 | -1.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.42 | 10.22% |
| R2 | 63.44 | 6.89% |
| R1 | 59.66 | 0.522% |
| Price | 59.35 | |
| S1 | 59.25 | -0.170% |
| S2 | 57.75 | -2.70% |
| S3 | 56.65 | -4.55% |
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
Click here for our free guide on how to buy PROSHARES ULTRA UTILITIES PROSHARES ULTRA UTILITIES ETF.
