ProShares UltraPro Short Dow30 ETF Forecast
Red day on Friday for ProShares UltraPro Short Dow30
(Updated on Apr 26, 2024)
The ProShares UltraPro Short Dow30 ETF price fell by -1.16% on the last day (Friday, 26th Apr 2024) from $18.08 to $17.87. During the last trading day the ETF fluctuated 2.31% from a day low at $17.72 to a day high of $18.13. The price has fallen in 6 of the last 10 days and is down by -1.54% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -7 million shares and in total, 8 million shares were bought and sold for approximately $149.90 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProShares UltraPro Short Dow30 ETF with a 90% probability to be traded between $15.99 and $18.79 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SDOW Signals & Forecast
The ProShares UltraPro Short Dow30 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 $17.92. On a fall, the ETF will find some support from the long-term average at approximately $17.13. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -3.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ProShares UltraPro Short Dow30 ETF
ProShares UltraPro Short Dow30 finds support from accumulated volume at $17.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.410 between high and low, or 2.31%. For the last week, the ETF has had daily average volatility of 2.65%.
Our recommended stop-loss: $17.07 (-4.50%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SDOW) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ProShares UltraPro Short Dow30 to open at $17.91, and during the day (based on 14 day Average True Range), to move between $17.32 and $18.42, which gives a possible trading interval of +/-$0.551 (+/-3.08%) up or down from last closing price. If ProShares UltraPro Short Dow30 takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.83 (0.22%) than the resistance at $18.45 (3.25%), 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 UltraPro Short Dow30 ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ProShares UltraPro Short Dow30 ETF to perform well in the short-term period.
Current score: 1.460 Buy Candidate Unchanged
Predicted Opening Price for ProShares UltraPro Short Dow30 of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$17.91 ( 0.205%) | $17.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDOW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.32 | 2.50 % | |
R2 | 18.16 | 1.62 % | ||
R1 | 18.06 | 1.08 % | ||
Current price: | 17.87 | |||
Support | S1 | 17.75 | -0.671 % | |
S2 | 17.65 | -1.21 % | ||
S3 | 17.50 | -2.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.53 | 3.69 % | |
R2 | 18.51 | 3.58 % | ||
R1 | 18.45 | 3.25 % | ||
Current price | 17.87 | |||
Support | S1 | 17.83 | -0.224% | |
S2 | 17.29 | -3.25% | ||
S3 | 16.77 | -6.16% |
SDOW Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.252 | 1.60% |
2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.253 | 1.32% |
3 | Jan 23, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.259 | 1.00% |
4 | Jan 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.258 | 1.03% |
5 | Jan 23, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.220 | 0.795% |
FAQ
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