ProShares VIX Mid-Term Futures ETF Forecast
ProShares VIX Mid-Term Futures ETF price ended at $15.85 on Thursday, after gaining 0.89%.
(Updated on Mar 28, 2024)
The ProShares VIX Mid-Term Futures ETF price gained 0.89% on the last trading day (Thursday, 28th Mar 2024), rising from $15.71 to $15.85. During the last trading day the ETF fluctuated 1.14% from a day low at $15.67 to a day high of $15.85. The price has been going up and down for this period, and there has been a -3.18% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 40 thousand shares were bought and sold for approximately $638.62 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProShares VIX Mid-Term Futures ETF with a 90% probability to be traded between $14.96 and $16.18 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VIXM Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 0.89%. Further rise is indicated until a new top pivot has been found. ProShares VIX Mid-Term Futures has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ProShares VIX Mid-Term Futures ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $15.97. On a fall, the ETF will find some support from the short-term average at $15.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ProShares VIX Mid-Term Futures ETF
ProShares VIX Mid-Term Futures finds support from accumulated volume at $15.82 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 $0.179 between high and low, or 1.14%. For the last week the ETF has had daily average volatility of 1.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VIXM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ProShares VIX Mid-Term Futures ETF to open at $15.79, and during the day (based on 14 day Average True Range), to move between $15.58 and $16.12, which gives a possible trading interval of +/-$0.267 (+/-1.69%) up or down from last closing price. If ProShares VIX Mid-Term Futures ETF takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.82 (0.19%) than the resistance at $15.88 (0.19%), 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 VIX Mid-Term Futures ETF ETF A Buy?
ProShares VIX Mid-Term Futures 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: -2.157 Sell Candidate Unchanged
Predicted Opening Price for ProShares VIX Mid-Term Futures ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$15.79 ( 0.377%) | $15.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VIXM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.97 | 0.754 % | |
R2 | 15.90 | 0.322 % | ||
R1 | 15.86 | 0.0551 % | ||
Current price: | 15.85 | |||
Support | S1 | 15.72 | -0.81 % | |
S2 | 15.68 | -1.08 % | ||
S3 | 15.61 | -1.51 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.08 | 1.42 % | |
R2 | 16.04 | 1.20 % | ||
R1 | 15.88 | 0.193 % | ||
Current price | 15.85 | |||
Support | S1 | 15.82 | -0.185% | |
S2 | 15.71 | -0.88% | ||
S3 | 15.62 | -1.45% |
FAQ
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