ProShares Ultra QQQ ETF Forecast
ProShares Ultra QQQ ETF price up 0.664% on Wednesday
(Updated on Mar 27, 2024)
The ProShares Ultra QQQ ETF price gained 0.664% on the last trading day (Wednesday, 27th Mar 2024), rising from $87.32 to $87.90. During the last trading day the ETF fluctuated 2.08% from a day low at $86.72 to a day high of $88.52. The price has risen in 6 of the last 10 days and is up by 2.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 876 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $292.96 million.
The ETF lies in the middle of a 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 18.91% during the next 3 months and, with a 90% probability hold a price between $100.86 and $110.56 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
QLD Signals & Forecast
The ProShares Ultra QQQ ETF 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 $87.60 and $85.58. A breakdown below any of these levels will issue sell signals. 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 Friday, March 01, 2024, and so far it has fallen -0.80%. 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 QQQ ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $82.31 and $81.69. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, ProShares Ultra QQQ finds support just below today's level at $82.31. If this is broken, then the next support from accumulated volume will be at $81.69 and $78.19.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.80 between high and low, or 2.08%. For the last week the ETF has had daily average volatility of 1.72%.
Our recommended stop-loss: $84.34 (-4.05%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (QLD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect ProShares Ultra QQQ to open at $87.71, and during the day (based on 14 day Average True Range), to move between $85.78 and $90.02, which gives a possible trading interval of +/-$2.12 (+/-2.42%) up or down from last closing price. If ProShares Ultra QQQ takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $88.36 (0.52%) than the support at $82.31 (6.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ProShares Ultra QQQ 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 QQQ ETF to perform well in the short-term.
Current score: 3.811 Buy Candidate Unchanged
Predicted Opening Price for ProShares Ultra QQQ of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$87.71 ( 0.212%) | $87.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QLD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 89.51 | 1.84 % | |
R2 | 88.83 | 1.05 % | ||
R1 | 88.40 | 0.570 % | ||
Current price: | 87.90 | |||
Support | S1 | 87.03 | -0.99 % | |
S2 | 86.60 | -1.48 % | ||
S3 | 85.91 | -2.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 88.61 | 0.81 % | |
R2 | 88.50 | 0.683 % | ||
R1 | 88.36 | 0.523 % | ||
Current price | 87.90 | |||
Support | S1 | 82.31 | -6.36% | |
S2 | 81.69 | -7.06% | ||
S3 | 78.19 | -11.05% |
QLD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.0555 | 0.0631% |
2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0780 | 0.106% |
3 | Jan 23, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.176 | 0.302% |
4 | Jun 24, 2022 | Dec 22, 2022 | Dec 30, 2022 | $0.109 | 0.311% |
5 | Jan 30, 2020 | Mar 25, 2020 | Apr 01, 2020 | $0.0023 | 0.0110% |
FAQ
Click here for our free guide on how to buy ProShares Ultra QQQ ETF.