Xtrackers S&p 500 2x Inverse Daily Swap ETF Forecast
Xtrackers S&p 500 2x Inverse Daily Swap ETF upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Xtrackers S&p 500 2x Inverse Daily Swap ETF price fell by -1.04% on the last day (Friday, 28th Jun 2024) from $0.283 to $0.280. During the last trading day the ETF fluctuated 1.04% from a day low at $0.278 to a day high of $0.281. The price has fallen in 5 of the last 10 days and is down by -2.37% for this period. Volume has increased on the last day by 5 million 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, 5 million shares were bought and sold for approximately $1.34 million.
The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.275 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -11.47% during the next 3 months and, with a 90% probability hold a price between $0.244 and $0.270 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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XT2D.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 0.125%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xtrackers S&p 500 2x Inverse Daily Swap ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.282 and $0.294. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Xtrackers S&p 500 2x Inverse Daily Swap 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".
Support, Risk & Stop-loss for Xtrackers S&p 500 2x Inverse Daily Swap ETF
Xtrackers S&p 500 2x Inverse Daily Swap finds support from accumulated volume at $0.280 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 $0.0029 between high and low, or 1.04%. For the last week, the ETF has had daily average volatility of 0.493%.
Our recommended stop-loss: $0.265 (-5.48%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (XT2D.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf to open at $0.280, and during the day (based on 14 day Average True Range), to move between $0.277 and $0.284, which gives a possible trading interval of +/-$0.0034 (+/-1.23%) up or down from last closing price. If Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.280 (0.12%) than the resistance at $0.282 (0.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xtrackers S&p 500 2x Inverse Daily Swap Ucits Etf ETF A Buy?
Xtrackers S&p 500 2x Inverse Daily Swap 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Inverse Daily Swap Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.280 ( 0.214%) | $0.280 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XT2D.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.283 | 0.82% |
| R2 | 0.282 | 0.425% |
| R1 | 0.281 | 0.181% |
| Price | 0.280 | |
| S1 | 0.279 | -0.609% |
| S2 | 0.278 | -0.85% |
| S3 | 0.277 | -1.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.327 | 16.50% |
| R2 | 0.324 | 15.52% |
| R1 | 0.282 | 0.410% |
| Price | 0.280 | |
| S1 | 0.280 | -0.125% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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