UBS ETRACS - ProShares Daily 3x Inverse Stock Forecast
Red day on Tuesday for UBS ETRACS - ProShares Daily 3x Inverse stock after losing 3.94%
(Updated on Jun 25, 2024)
The UBS ETRACS - ProShares Daily 3x Inverse stock price fell by -3.94% on the last day (Tuesday, 25th Jun 2024) from $16.75 to $16.09. During the last trading day the stock fluctuated 0% from a day low at $16.09 to a day high of $16.09. The price has risen in 5 of the last 10 days but is still down by -4.05% for this period. Volume has increased on the last day by 150 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, 150 shares were bought and sold for approximately $2.41 thousand.
Given the current short-term trend, the stock is expected to rise 35.22% during the next 3 months and, with a 90% probability hold a price between $21.76 and $25.35 at the end of this 3-month period.
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WTID Signals & Forecast
The UBS ETRACS - ProShares Daily 3x Inverse stock 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 stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $17.18. On a fall, the stock will find some support from the long-term average at approximately $15.92. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -11.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). UBS ETRACS - ProShares Daily 3x Inverse 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for UBS ETRACS - ProShares Daily 3x Inverse stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.11 and $13.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, UBS ETRACS - ProShares Daily 3x Inverse finds support just below today's level at $15.11. If this is broken, then the next support from accumulated volume will be at $13.34 and $12.48.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $15.24 (-5.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (WTID) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect UBS ETRACS - ProShares Daily 3x Inverse Crude ETN to open at $16.09, and during the day (based on 14 day Average True Range), to move between $15.58 and $16.60, which gives a possible trading interval of +/-$0.512 (+/-3.18%) up or down from last closing price. If UBS ETRACS - ProShares Daily 3x Inverse Crude ETN takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.11 (6.09%) than the resistance at $17.10 (6.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UBS ETRACS - ProShares Daily 3x Inverse Crude ETN stock A Buy?
UBS ETRACS - ProShares Daily 3x Inverse holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 UBS ETRACS - ProShares Daily 3x Inverse Crude ETN of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$16.09 ( 0%) | $16.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WTID
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 16.09 | - |
R2 | 16.09 | - |
R1 | 16.09 | - |
Price | 16.09 | |
S1 | 16.09 | - |
S2 | 16.09 | - |
S3 | 16.09 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 17.83 | 10.81% |
R2 | 17.19 | 6.84% |
R1 | 17.10 | 6.28% |
Price | 16.09 | |
S1 | 15.11 | -6.09% |
S2 | 13.34 | -17.10% |
S3 | 12.48 | -22.45% |
FAQ
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