ProShares UltraPro Short Dow30 ETF Forecast
Stronger technical forecast for ProShares UltraPro Short Dow30 ETF price after Thursday trading.
(Updated on Apr 25, 2024)
The ProShares UltraPro Short Dow30 ETF price gained 3.08% on the last trading day (Thursday, 25th Apr 2024), rising from $17.54 to $18.08. During the last trading day the ETF fluctuated 3.09% from a day low at $17.98 to a day high of $18.53. The price has been going up and down for this period, and there has been a 3.31% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $283.76 million.
The ETFis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $18.54 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect ProShares UltraPro Short Dow30 ETF with a 90% probability to be traded between $15.81 and $18.63 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 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 $18.02 and $17.11. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 15, 2024, and so far it has fallen -2.43%. Further fall is indicated until a new bottom pivot has been found.
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 $0.555 between high and low, or 3.09%. For the last week, the ETF has had daily average volatility of 2.69%.
Our recommended stop-loss: $17.31 (-4.24%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (SDOW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ProShares UltraPro Short Dow30 to open at $18.19, and during the day (based on 14 day Average True Range), to move between $17.52 and $18.64, which gives a possible trading interval of +/-$0.561 (+/-3.11%) 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 6.21% 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 (1.38%) than the resistance at $18.45 (2.05%), 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 3.212 Buy Candidate Upgraded
Predicted Opening Price for ProShares UltraPro Short Dow30 of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $18.19 ( 0.636%) | $18.08 |
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 | 18.75 | 3.71 % | |
| R2 | 18.54 | 2.53 % | ||
| R1 | 18.41 | 1.81 % | ||
| Current price: | 18.08 | |||
| Support | S1 | 17.98 | -0.537 % | |
| S2 | 17.85 | -1.26 % | ||
| S3 | 17.64 | -2.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.53 | 2.49 % | |
| R2 | 18.51 | 2.38 % | ||
| R1 | 18.45 | 2.05 % | ||
| Current price | 18.08 | |||
| Support | S1 | 17.83 | -1.38% | |
| S2 | 17.29 | -4.37% | ||
| S3 | 16.77 | -7.25% |
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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