ProShares VIX Short-Term Futures ETF Forecast

Big movements in ProShares VIX Short-Term Futures ETF price on Monday moving 10.55% between high and low
(Updated on Apr 15, 2024)

VIXY Signals & Forecast

The ProShares VIX Short-Term Futures ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.15 and $13.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 22.24%. 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 ProShares VIX Short-Term Futures ETF

ProShares VIX Short-Term Futures finds support from accumulated volume at $15.30 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 $1.49 between high and low, or 10.55%. For the last week, the ETF has had daily average volatility of 7.00%.

Our recommended stop-loss: $14.96 (-3.50%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (VIXY) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect ProShares VIX Short-Term Futures ETF to open at $15.06, and during the day (based on 14 day Average True Range), to move between $14.75 and $16.25, which gives a possible trading interval of +/-$0.748 (+/-4.82%) up or down from last closing price. If ProShares VIX Short-Term Futures ETF takes out the full calculated possible swing range there will be an estimated 9.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.30 (1.29%) than the resistance at $15.88 (2.45%), 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 Short-Term Futures ETF ETF A Buy?

ProShares VIX Short-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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for ProShares VIX Short-Term Futures ETF of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.