ProShares Ultra Silver ETF Forecast
Green day on Thursday for ProShares Ultra Silver ETF after gaining 1.44%
(Updated on Apr 25, 2024)
The ProShares Ultra Silver ETF price gained 1.44% on the last trading day (Thursday, 25th Apr 2024), rising from $33.96 to $34.45. During the last trading day the ETF fluctuated 3.28% from a day low at $33.74 to a day high of $34.84. The price has been going up and down for this period, and there has been a -7.69% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 323 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $41.04 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 55.55% during the next 3 months and, with a 90% probability hold a price between $50.74 and $62.60 at the end of this 3-month period.
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AGQ Signals & Forecast
The ProShares Ultra Silver ETF 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 ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $35.47. On a fall, the ETF will find some support from the long-term average at approximately $32.09. 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. Volume is rising along with the price. This is considered to be a good technical 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 Monday, April 15, 2024, and so far it has fallen -10.26%. 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).
Support, Risk & Stop-loss for ProShares Ultra Silver ETF
ProShares Ultra Silver finds support from accumulated volume at $34.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.11 between high and low, or 3.28%. For the last week, the ETF has had daily average volatility of 3.06%.
Our recommended stop-loss: $32.38 (-6.02%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (AGQ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ProShares Ultra Silver ETF to open at $34.34, and during the day (based on 14 day Average True Range), to move between $32.74 and $36.16, which gives a possible trading interval of +/-$1.71 (+/-4.95%) up or down from last closing price. If ProShares Ultra Silver ETF takes out the full calculated possible swing range there will be an estimated 9.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.02 (1.25%) than the resistance at $35.66 (3.51%), 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 Ultra Silver ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ProShares Ultra Silver ETF to perform well in the short-term.
Current score: 1.691 Buy Candidate Unchanged
Predicted Opening Price for ProShares Ultra Silver ETF of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$34.34 ( 0.314%) | $34.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGQ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.45 | 2.89 % | |
R2 | 35.02 | 1.67 % | ||
R1 | 34.76 | 0.91 % | ||
Current price: | 34.45 | |||
Support | S1 | 33.92 | -1.54 % | |
S2 | 33.66 | -2.30 % | ||
S3 | 33.24 | -3.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.24 | 5.20 % | |
R2 | 35.73 | 3.72 % | ||
R1 | 35.66 | 3.51 % | ||
Current price | 34.45 | |||
Support | S1 | 34.02 | -1.25% | |
S2 | 33.84 | -1.77% | ||
S3 | 33.19 | -3.66% |
FAQ
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