PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ETF downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)
The PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ETF price fell by -2.32% on the last day (Friday, 10th May 2024) from $46.12 to $45.05. During the last trading day the ETF fluctuated 4.39% from a day low at $44.68 to a day high of $46.64. The price has risen in 7 of the last 10 days and is up by 8.27% over the past 2 weeks. Volume has increased on the last day by 25 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, 680 thousand shares were bought and sold for approximately $30.62 million.
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $46.06 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -7.74% during the next 3 months and, with a 90% probability hold a price between $34.50 and $42.49 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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URTY Signals & Forecast
The PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $44.70 and $43.94. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.32%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Tuesday, June 27, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, June 27, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ETF
PROSHARES ULTRAPRO RUSSELL2000 PROSHARES finds support from accumulated volume at $44.77 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 $1.96 between high and low, or 4.39%. For the last week, the ETF has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (URTY) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ULTRAPRO RUSSELL2000 to open at $45.46, and during the day (based on 14 day Average True Range), to move between $42.96 and $47.14, which gives a possible trading interval of +/-$2.09 (+/-4.64%) up or down from last closing price. If PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ULTRAPRO RUSSELL2000 takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $44.77 (0.62%) than the resistance at $47.46 (5.35%), 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 RUSSELL2000 PROSHARES ULTRAPRO RUSSELL2000 ETF A Buy?
PROSHARES ULTRAPRO RUSSELL2000 PROSHARES 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 Buy to a Sell candidate.
Current score: -1.097 Sell Candidate Downgraded
Predicted Opening Price for PROSHARES ULTRAPRO RUSSELL2000 PROSHARES ULTRAPRO RUSSELL2000 of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $45.46 ( 0.90%) | $45.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.42 | 5.25 % | |
| R2 | 46.67 | 3.59 % | ||
| R1 | 46.21 | 2.56 % | ||
| Current price: | 45.05 | |||
| Support | S1 | 44.71 | -0.759 % | |
| S2 | 44.25 | -1.79 % | ||
| S3 | 43.50 | -3.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.19 | 6.97 % | |
| R2 | 47.63 | 5.73 % | ||
| R1 | 47.46 | 5.35 % | ||
| Current price | 45.05 | |||
| Support | S1 | 44.77 | -0.622% | |
| S2 | 43.69 | -3.02% | ||
| S3 | 40.98 | -9.03% |
URTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0850 | 0.195% |
| 2 | Jan 31, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.0410 | 0.122% |
| 3 | Jan 31, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0850 | 0.214% |
| 4 | Jan 31, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.0450 | 0.124% |
| 5 | Jun 24, 2022 | Dec 22, 2022 | Dec 30, 2022 | $0.105 | 0.280% |
FAQ
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