PROSHARES ULTRA OIL & GAS PROSHARES Stock Forecast
Stronger technical forecast for PROSHARES ULTRA OIL & GAS PROSHARES stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The PROSHARES ULTRA OIL & GAS PROSHARES stock price gained 1.07% on the last trading day (Tuesday, 23rd Apr 2024), rising from £280.00 to £283.00. During the last trading day the stock fluctuated 1.07% from a day low at £280.00 to a day high of £283.00. The price has risen in 5 of the last 10 days and is up by 2.17% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 185 thousand shares were bought and sold for approximately £52.24 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £281.97 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £289.82 sometime during the next 3 months.
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DIG.L Signals & Forecast
Mostly positive signals in the chart today. The PROSHARES ULTRA OIL & GAS PROSHARES stock 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 £278.14 and £276.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.91%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for PROSHARES ULTRA OIL & GAS PROSHARES stock
PROSHARES ULTRA OIL & GAS PROSHARES finds support from accumulated volume at £277.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £3.00 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 1.17%.
Our recommended stop-loss: £270.92 (-4.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (DIG.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS to open at £282.00, and during the day (based on 14 day Average True Range), to move between £279.41 and £286.59, which gives a possible trading interval of +/-£3.59 (+/-1.27%) up or down from last closing price. If PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £277.00, some £6.00 (2.12%) from the current price of £283.00, our system finds the risk reward attractive.
Is PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS stock A Buy?
PROSHARES ULTRA OIL & GAS PROSHARES holds several positive signals and has broken the narrow and horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.117 Strong Buy Candidate Upgraded
Predicted Opening Price for PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £282.00 ( 0.353%) | £283.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 285.00 | 0.707 % | |
| R2 | 283.85 | 0.302 % | ||
| R1 | 283.15 | 0.0516 % | ||
| Current price: | 283.00 | |||
| Support | S1 | 280.85 | -0.758 % | |
| S2 | 280.15 | -1.01 % | ||
| S3 | 279.00 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 283.00 | |||
| Support | S1 | 277.00 | -2.12% | |
| S2 | 276.00 | -2.47% | ||
| S3 | 274.00 | -3.18% |
DIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 31, 2024 | £4.15 | 1.47% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 29, 2024 | £0.0320 | 0.0117% |
| 3 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | £0.0320 | 0.0122% |
| 4 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.0320 | 0.0116% |
| 5 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £4.10 | 1.37% |
FAQ
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