2x Long Vix Futures Etf ETF Forecast
2x Long Vix Futures Etf ETF price ended at $5.60 on Friday, after gaining 2.38%.
(Updated on Jun 28, 2024)
The 2x Long Vix Futures Etf ETF price gained 2.38% on the last trading day (Friday, 28th Jun 2024), rising from $5.47 to $5.60. During the last trading day the ETF fluctuated 4.09% from a day low at $5.38 to a day high of $5.60. The price has fallen in 7 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $32.87 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -43.76% during the next 3 months and, with a 90% probability hold a price between $2.38 and $4.18 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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UVIX Signals & Forecast
There are mixed signals in the ETF today. The 2x Long Vix Futures Etf 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 $5.76 and $6.19. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 2.38%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for 2x Long Vix Futures Etf ETF
2x Long Vix Futures Etf finds support from accumulated volume at $5.54 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 $0.220 between high and low, or 4.09%. For the last week, the ETF has had daily average volatility of 4.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UVIX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect 2x Long Vix Futures Etf to open at $5.53, and during the day (based on 14 day Average True Range), to move between $5.21 and $5.99, which gives a possible trading interval of +/-$0.392 (+/-7.01%) up or down from last closing price. If 2x Long Vix Futures Etf takes out the full calculated possible swing range there will be an estimated 14.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.54 (1.07%) than the resistance at $5.87 (4.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 2x Long Vix Futures Etf ETF A Buy?
2x Long Vix Futures Etf 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.
Current score: -1.951 Sell Candidate Unchanged
Predicted Opening Price for 2x Long Vix Futures Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $5.53 ( 1.31%) | $5.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UVIX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.75 | 2.62% |
| R2 | 5.66 | 1.12% |
| R1 | 5.61 | 0.191% |
| Price | 5.60 | |
| S1 | 5.44 | -2.81% |
| S2 | 5.39 | -3.74% |
| S3 | 5.31 | -5.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.47 | 15.54% |
| R2 | 6.43 | 14.82% |
| R1 | 5.87 | 4.82% |
| Price | 5.60 | |
| S1 | 5.54 | -1.07% |
| S2 | 5.47 | -2.32% |
| S3 | 0 | - |
FAQ
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