ProShares VIX Mid-Term Futures ETF Forecast
Stronger technical forecast for ProShares VIX Mid-Term Futures ETF price after Friday trading.
(Updated on Jun 28, 2024)
The ProShares VIX Mid-Term Futures ETF price gained 1.03% on the last trading day (Friday, 28th Jun 2024), rising from $14.18 to $14.33. During the last trading day the ETF fluctuated 1.56% from a day low at $14.11 to a day high of $14.33. The price has risen in 5 of the last 10 days and is up by 1.42% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 69 thousand shares were bought and sold for approximately $987.60 thousand. 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 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 $14.73 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 -15.31% during the next 3 months and, with a 90% probability hold a price between $10.77 and $12.47 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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VIXM Signals & Forecast
The ProShares VIX Mid-Term Futures ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $14.42. On a fall, the ETF will find some support from the long-term average at approximately $14.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 3.62%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for ProShares VIX Mid-Term Futures ETF
ProShares VIX Mid-Term Futures finds support from accumulated volume at $14.18 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.220 between high and low, or 1.56%. For the last week the ETF has had daily average volatility of 1.19%
Our recommended stop-loss: $13.85 (-3.32%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 52 days ago.)
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 $14.26, and during the day (based on 14 day Average True Range), to move between $14.10 and $14.56, which gives a possible trading interval of +/-$0.228 (+/-1.59%) 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 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.18 (1.02%) than the resistance at $15.53 (8.37%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.800 Hold/Accumulate Upgraded
Predicted Opening Price for ProShares VIX Mid-Term Futures ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $14.26 ( 0.512%) | $14.33 |
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 | |
|---|---|---|
| R3 | 14.48 | 1.02% |
| R2 | 14.39 | 0.437% |
| R1 | 14.34 | 0.0747% |
| Price | 14.33 | |
| S1 | 14.17 | -1.10% |
| S2 | 14.12 | -1.46% |
| S3 | 14.04 | -2.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.63 | 16.05% |
| R2 | 15.62 | 9.00% |
| R1 | 15.53 | 8.37% |
| Price | 14.33 | |
| S1 | 14.18 | -1.02% |
| S2 | 14.06 | -1.88% |
| S3 | 13.90 | -2.99% |
FAQ
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