PROSHARES ULTRA 7-10 YEAR TREASURY ETF Forecast
PROSHARES ULTRA 7-10 YEAR TREASURY ETF downgraded to Sell Candidate
(Updated on Jun 28, 2024)
The PROSHARES ULTRA 7-10 YEAR TREASURY ETF price fell by -0.91% on the last day (Friday, 28th Jun 2024) from $42.47 to $42.08. During the last trading day the ETF fluctuated 1.26% from a day low at $42.08 to a day high of $42.61. The price has been going up and down for this period, and there has been a -2.39% loss for the last 2 weeks. Volume has increased on the last day by 3 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, 3 thousand shares were bought and sold for approximately $141.14 thousand.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.13% during the next 3 months and, with a 90% probability hold a price between $43.20 and $45.42 at the end of this 3-month period.
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UST Signals & Forecast
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. The PROSHARES ULTRA 7-10 YEAR TREASURY ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $42.74 and $42.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.98%. Further fall is indicated until a new bottom pivot has been found. PROSHARES ULTRA 7-10 YEAR TREASURY 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".
Support, Risk & Stop-loss for PROSHARES ULTRA 7-10 YEAR TREASURY ETF
PROSHARES ULTRA 7-10 YEAR TREASURY finds support from accumulated volume at $41.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.530 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 0.531%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PROSHARES ULTRA 7-10 YEAR TREASURY PROSHARES ULTRA 7-10 YEAR TREASURY to open at $42.26, and during the day (based on 14 day Average True Range), to move between $41.65 and $42.51, which gives a possible trading interval of +/-$0.430 (+/-1.02%) up or down from last closing price. If PROSHARES ULTRA 7-10 YEAR TREASURY PROSHARES ULTRA 7-10 YEAR TREASURY takes out the full calculated possible swing range there will be an estimated 2.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.16 (0.19%) than the support at $41.82 (0.62%), 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 7-10 YEAR TREASURY PROSHARES ULTRA 7-10 YEAR TREASURY ETF A Buy?
The PROSHARES ULTRA 7-10 YEAR TREASURY ETF holds several negative signals and despite the positive trend, we believe PROSHARES ULTRA 7-10 YEAR TREASURY will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.514 Sell Candidate Downgraded
Predicted Opening Price for PROSHARES ULTRA 7-10 YEAR TREASURY PROSHARES ULTRA 7-10 YEAR TREASURY of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $42.26 ( 0.420%) | $42.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.79 | 1.68% |
| R2 | 42.58 | 1.20% |
| R1 | 42.46 | 0.90% |
| Price | 42.08 | |
| S1 | 42.05 | -0.0613% |
| S2 | 41.93 | -0.359% |
| S3 | 41.73 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 43.03 | 2.26% |
| R2 | 42.58 | 1.20% |
| R1 | 42.16 | 0.190% |
| Price | 42.08 | |
| S1 | 41.82 | -0.618% |
| S2 | 41.51 | -1.35% |
| S3 | 41.22 | -2.05% |
UST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.426 | 0.99% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.404 | 0.88% |
| 3 | Jan 31, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.387 | 0.94% |
| 4 | Jan 31, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.595 | 1.26% |
| 5 | Jan 31, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.203 | 0.414% |
FAQ
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