Boost NASDAQ 100 3x Leverage Daily ETP Stock Forecast
Boost NASDAQ 100 3x Leverage Daily ETP stock price up more than 6.58% on Tuesday
(Updated on Apr 23, 2024)
The Boost NASDAQ 100 3x Leverage Daily ETP stock price gained 6.58% on the last trading day (Tuesday, 23rd Apr 2024), rising from £150.72 to £160.64. During the last trading day the stock fluctuated 4.52% from a day low at £154.22 to a day high of £161.19. The price has fallen in 7 of the last 10 days and is down by -10.44% for this period. Volume fell on the last day by -2 thousand shares and in total, 7 thousand shares were bought and sold for approximately £1.09 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Boost NASDAQ 100 3x Leverage Daily ETP stock with a 90% probability to be traded between £153.71 and £198.92 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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QQQ3.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.58%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Boost NASDAQ 100 3x Leverage 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 £163.46 and £179.62. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Boost NASDAQ 100 3x Leverage Daily ETP stock
Boost NASDAQ 100 3x Leverage Daily ETP finds support from accumulated volume at £154.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £6.97 between high and low, or 4.52%. For the last week the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QQQ3.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Boost NASDAQ 100 3x Leverage Daily ETP to open at £158.68, and during the day (based on 14 day Average True Range), to move between £153.51 and £167.76, which gives a possible trading interval of +/-£7.12 (+/-4.43%) up or down from last closing price. If Boost NASDAQ 100 3x Leverage Daily ETP takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £154.41 (3.88%) than the resistance at £173.73 (8.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Boost NASDAQ 100 3x Leverage Daily ETP stock A Buy?
Boost NASDAQ 100 3x Leverage Daily ETP holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.399 Sell Candidate Unchanged
Predicted Opening Price for Boost NASDAQ 100 3x Leverage Daily ETP of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £158.68 ( 1.22%) | £160.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQ3.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 165.65 | 3.12 % | |
| R2 | 162.99 | 1.47 % | ||
| R1 | 161.34 | 0.442 % | ||
| Current price: | 160.64 | |||
| Support | S1 | 156.02 | -2.87 % | |
| S2 | 154.37 | -3.90 % | ||
| S3 | 151.71 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 186.01 | 15.79 % | |
| R2 | 181.32 | 12.88 % | ||
| R1 | 173.73 | 8.15 % | ||
| Current price | 160.64 | |||
| Support | S1 | 154.41 | -3.88% | |
| S2 | 150.72 | -6.17% | ||
| S3 | 0 | . |
FAQ
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