Boost S&P 500 3x Short Daily ETP Stock Forecast
Red day on Wednesday for Boost S&P 500 3x Short Daily ETP
(Updated on Sep 02, 2020)
The Boost S&P 500 3x Short Daily ETP stock price fell by -3.64% on the last day (Wednesday, 2nd Sep 2020) from £1.10 to £1.06. During the last trading day the stock fluctuated 1.90% from a day low at £1.05 to a day high of £1.07. The price has fallen in 6 of the last 10 days and is down by -56.91% for this period. Volume has increased on the last day by 413 thousand 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, 1 million shares were bought and sold for approximately £1.36 million.
Given the current short-term trend, the stock is expected to fall -4.57% during the next 3 months and, with a 90% probability hold a price between £1.01 and £1.04 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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3USS.L Signals & Forecast
There are few to no technical positive signals at the moment. The Boost S&P 500 3x Short Daily ETP stock 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 £1.33 and £2.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 30, -1. 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). Boost S&P 500 3x Short Daily ETP 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 Boost S&P 500 3x Short Daily ETP stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.0200 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: £0.0500 (-5.00%) (Unable to calculate.)
Trading Expectations (3USS.L) For The Upcoming Trading Day Of Thursday 3rd
With no support below and resistance from accumulated volume @ £1.10, some £0.0400 (3.77%) from the current price of £1.06, our system finds the risk reward not very attractive.
Is Boost S&P 500 3x Short Daily ETP stock A Buy?
Boost S&P 500 3x Short Daily ETP 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 Boost S&P 500 3x Short Daily ETP of Thursday, September 3, 2020
| Fair opening price September 3, 2020 | Current price |
|---|---|
| £1.06 ( 0%) | £1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3USS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 1.89 % | |
| R2 | 1.07 | 1.17 % | ||
| R1 | 1.07 | 0.721 % | ||
| Current price: | 1.06 | |||
| Support | S1 | 1.05 | -0.721 % | |
| S2 | 1.05 | -1.17 % | ||
| S3 | 1.04 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 5.66 % | |
| R2 | 1.11 | 4.72 % | ||
| R1 | 1.10 | 3.77 % | ||
| Current price | 1.06 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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