ProShares Ultra Semiconductors ETF Forecast
On Tuesday, ProShares Ultra Semiconductors ETF price gained an impressive 5.18%
(Updated on Apr 23, 2024)
The ProShares Ultra Semiconductors ETF price gained 5.18% on the last trading day (Tuesday, 23rd Apr 2024), rising from $77.18 to $81.18. During the last trading day the ETF fluctuated 4.60% from a day low at $78.19 to a day high of $81.79. The price has fallen in 6 of the last 10 days and is down by -12.76% for this period. Volume fell on the last day by -45 thousand shares and in total, 360 thousand shares were bought and sold for approximately $29.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower part of a very 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 $74.18 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 28.01% during the next 3 months and, with a 90% probability hold a price between $94.96 and $156.13 at the end of this 3-month period.
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USD Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares Ultra Semiconductors 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 $83.24 and $94.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -24.97%. 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).
Support, Risk & Stop-loss for ProShares Ultra Semiconductors ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $73.44 and $73.32. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, ProShares Ultra Semiconductors finds support just below today's level at $73.44. If this is broken, then the next support from accumulated volume will be at $73.32 and $72.46.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $3.60 between high and low, or 4.60%. For the last week, the ETF has had daily average volatility of 8.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ProShares Ultra Semiconductors to open at $80.39, and during the day (based on 14 day Average True Range), to move between $75.21 and $87.15, which gives a possible trading interval of +/-$5.97 (+/-7.35%) up or down from last closing price. If ProShares Ultra Semiconductors takes out the full calculated possible swing range there will be an estimated 14.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $84.77 (4.42%) than the support at $73.44 (9.53%), 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 Ultra Semiconductors ETF A Buy?
The ProShares Ultra Semiconductors ETF holds several negative signals and despite the positive trend, we believe ProShares Ultra Semiconductors will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.231 Sell Candidate Unchanged
Predicted Opening Price for ProShares Ultra Semiconductors of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $80.39 ( 0.98%) | $81.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.99 | 3.46 % | |
| R2 | 82.61 | 1.76 % | ||
| R1 | 81.76 | 0.717 % | ||
| Current price: | 81.18 | |||
| Support | S1 | 79.01 | -2.67 % | |
| S2 | 78.16 | -3.72 % | ||
| S3 | 76.79 | -5.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.16 | 20.92 % | |
| R2 | 98.09 | 20.83 % | ||
| R1 | 84.77 | 4.42 % | ||
| Current price | 81.18 | |||
| Support | S1 | 73.44 | -9.53% | |
| S2 | 73.32 | -9.68% | ||
| S3 | 72.46 | -10.74% |
USD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0270 | 0.0531% |
| 2 | Jun 24, 2022 | Dec 22, 2022 | Dec 30, 2022 | $0.0490 | 0.296% |
| 3 | Jan 29, 2020 | Dec 23, 2020 | Dec 31, 2020 | $0.0063 | 0.0242% |
| 4 | Jan 29, 2020 | Sep 23, 2020 | Sep 30, 2020 | $0.0030 | 0.0158% |
| 5 | Jan 29, 2020 | Jun 24, 2020 | Jul 01, 2020 | $0.0093 | 0.0626% |
FAQ
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