3X Inverse Silver ETN Velocityshares Forecast and Stock Analysis
Technical DSLV stock analysis for March 19, 2019.
3X Inverse Silver ETN Velocityshares fell by -0.62% in the last day from $28.86 to $28.68 and has now fallen 4 days in a row. The price has fallen in 6 of the last 10 days and is down by -4.64% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -35 308 shares and in total 21 995 shares bought and sold for approximately $630 817.00.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the DSLV stock was $28.68. This is 0.62% less than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 1.63% from a day low at $28.26 to a day high of $28.72.
30 day high of the DSLV stock price was $31.09 and low was $24.50.
90 day high was $33.68 and low was $24.50.
52 week high for the 3X Inverse Silver ETN Velocityshares - $39.55 and low - $21.07.
Given the current horizontal trend you can expect 3X Inverse Silver ETN Velocityshares with 90% probability to be traded between $24.42 and $32.23 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
3X Inverse Silver ETN Velocityshares holds a sales 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 stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $28.83. On a fall, the stock will find some support from the long-term average at approximately $27.47. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 14, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $26.76 and $26.62.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, 3X Inverse Silver ETN Velocityshares finds support just below today's level at $26.76. If this is broken, then the next support from accumulated volume will be at $26.62 and $25.12.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.46 between high and low, or 1.63%. For the last week the stock has had a daily average volatility of 1.58%.
Our recommended stoploss: $27.01 (-5.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 3 days ago.)
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3X Inverse Silver ETN Velocityshares holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.