Xtrackers S&p 500 2x Leveraged Daily ETF Forecast
Green day on Friday for Xtrackers S&p 500 2x Leveraged Daily ETF after gaining 1.51%
(Updated on Jun 28, 2024)
The Xtrackers S&p 500 2x Leveraged Daily ETF price gained 1.51% on the last trading day (Friday, 28th Jun 2024), rising from $206.55 to $209.67. During the last trading day the ETF fluctuated 1.25% from a day low at $208.63 to a day high of $211.23. The price has risen in 6 of the last 10 days and is up by 2.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $1.89 million.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 14.66% during the next 3 months and, with a 90% probability hold a price between $223.40 and $252.37 at the end of this 3-month period.
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XS2D.L Signals & Forecast
The Xtrackers S&p 500 2x Leveraged Daily 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 $207.74 and $199.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 21.01%. 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 Xtrackers S&p 500 2x Leveraged Daily ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $188.01 and $178.91. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Xtrackers S&p 500 2x Leveraged Daily finds support just below today's level at $188.01. If this is broken, then the next support from accumulated volume will be at $178.91 and $174.10.
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 $2.60 between high and low, or 1.25%. For the last week, the ETF has had daily average volatility of 0.664%.
Our recommended stop-loss: $202.33 (-3.50%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 66 days ago.)
Trading Expectations (XS2D.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf to open at $209.84, and during the day (based on 14 day Average True Range), to move between $207.15 and $212.19, which gives a possible trading interval of +/-$2.52 (+/-1.20%) up or down from last closing price. If Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $188.01, some $21.66 (10.33%) from the current price of $209.67, our system finds the risk reward attractive.
Is Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf ETF A Buy?
Xtrackers S&p 500 2x Leveraged Daily 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.
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 Xtrackers S&p 500 2x Leveraged Daily Swap Ucits Etf of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$209.84 ( 0.0827%) | $209.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XS2D.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 212.44 | 1.32% |
R2 | 211.45 | 0.85% |
R1 | 210.84 | 0.556% |
Price | 209.67 | |
S1 | 208.85 | -0.391% |
S2 | 208.24 | -0.684% |
S3 | 207.24 | -1.16% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 209.67 | |
S1 | 188.01 | -10.33% |
S2 | 178.91 | -14.67% |
S3 | 174.10 | -16.96% |
FAQ
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