ProShares UltraPro Short S&P500 Forecast and Stock Analysis
Technical SPXU stock analysis for Wednesday May 22, 2019.
|Shorts||0.16% ( 2013-01-15 )|
|Price to book||n/a|
|Next Earnings Date||n/a|
ProShares UltraPro Short S&P500 gained 0.89% in the last trading day ( Wednesday, 22nd May 2019 ), rising from $30.37 to $30.64 During day the stock fluctuated 1.60% from a day low at $30.33 to a day high of $30.81. The price has been going up and down for this period, and there has been a 1.86% gain for the last 2 weeks. Volume fell in the last day by -0.33 million shares, and in total, 3.78 million shares bought and sold for approximately $115.81 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the SPXU stock price was $32.52 and low was $27.91.
- 90 day high was $35.79 and low was $27.91.
- 52 week high for the ProShares UltraPro Short S&P500 - $57.87 and low - $27.91.
ProShares UltraPro Short S&P500 lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.13% during the next 3 months and, with 90% probability hold a price between $23.76 and $27.85 at the end of this period.
ProShares UltraPro Short S&P500 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 $30.72. On a fall, the stock will find some support from the long-term average at approximately $29.65. 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. A buy signal was issued from a pivot bottom point on Tuesday May 21, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
ProShares UltraPro Short S&P500 finds support from accumulated volume at $30.59.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.48 between high and low, or 1.60%. For the last week, the stock has had a daily average volatility of 2.58%.
Our recommended stoploss: $28.96 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
2.58 %Average volatility
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ProShares UltraPro Short S&P500 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.
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