ProShares UltraPro Short S&P500 ETF Forecast

$6.45
-0.170 (-2.57%)
At Close: Mar 27, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Red day on Wednesday for ProShares UltraPro Short S&P500
(Updated on Mar 27, 2024)

Sell candidate since Mar 15, 2024 Loss -8.77% PDF

The ProShares UltraPro Short S&P500 ETF price fell by -2.57% on the last day (Wednesday, 27th Mar 2024) from $6.62 to $6.45. During the last trading day the ETF fluctuated 2.33% from a day low at $6.45 to a day high of $6.60. The price has been going up and down for this period, and there has been a -6.25% loss for the last 2 weeks. Volume has increased on the last day by 10 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 million shares were bought and sold for approximately $120.90 million.

The ETF 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 ETF is expected to fall -26.51% during the next 3 months and, with a 90% probability hold a price between $4.46 and $4.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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SPXU Signals & Forecast

There are few to no technical positive signals at the moment. The ProShares UltraPro Short S&P500 ETF 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 $6.57 and $7.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, January 04, 2024, and so far it has fallen -28.96%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for ProShares UltraPro Short S&P500 ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $0.150 between high and low, or 2.33%. For the last week, the ETF has had daily average volatility of 1.45%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SPXU) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect ProShares UltraPro Short S&P500 to open at $6.50, and during the day (based on 14 day Average True Range), to move between $6.27 and $6.63, which gives a possible trading interval of +/-$0.184 (+/-2.85%) up or down from last closing price. If ProShares UltraPro Short S&P500 takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $6.83, some $0.380 (5.89%) from the current price of $6.45, our system finds the risk reward not very attractive.

Is ProShares UltraPro Short S&P500 ETF A Buy?

ProShares UltraPro Short S&P500 holds several negative signals and is within a 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 ETF.

Current score: -4.301 Sell Candidate Unchanged

Predicted Opening Price for ProShares UltraPro Short S&P500 of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$6.50 ( 0.775%) $6.45

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SPXU

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 6.65 3.10 %
R2 6.59 2.21 %
R1 6.56 1.66 %
Current price: 6.45
Support S1 6.44 -0.113 %
S2 6.41 -0.662 %
S3 6.35 -1.55 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 7.18 11.32 %
R2 7.07 9.61 %
R1 6.83 5.89 %
Current price 6.45
Support S1 0 .
S2 0 .
S3 0 .

SPXU Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 20, 2024 Mar 20, 2024 Mar 27, 2024 $0.127 1.97%
2 Dec 20, 2023 Dec 20, 2023 Dec 20, 2023 $0.182 2.03%
3 Jan 06, 2023 Sep 20, 2023 Sep 27, 2023 $0.174 1.45%
4 Jan 06, 2023 Jun 21, 2023 Jun 28, 2023 $0.137 1.23%
5 Jan 06, 2023 Mar 22, 2023 Mar 29, 2023 $0.115 0.80%

FAQ

What is the symbol for ProShares UltraPro Short S&P500 ETF and on which exchange is it traded?
The symbol for ProShares UltraPro Short S&P500 is SPXU and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell ProShares UltraPro Short S&P500 ETF?
ProShares UltraPro Short S&P500 holds several negative signals and is within a 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 ETF.

How to buy ProShares UltraPro Short S&P500 ETF?
ProShares UltraPro Short S&P500 ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ProShares UltraPro Short S&P500 ETF.

What's the current price of ProShares UltraPro Short S&P500 ETF?
As of the end of day on the 2024-03-27, the price of an ProShares UltraPro Short S&P500 (SPXU) share was $6.45.

What is the 52-week high and low for ProShares UltraPro Short S&P500 ETF?
The 52-week high for ProShares UltraPro Short S&P500 ETF is $15.17 and the 52-week low is $6.40.

What is the market capitalization of ProShares UltraPro Short S&P500 ETF?
As of the 2024-03-27, the market capitalization of ProShares UltraPro Short S&P500 is 627.448M.
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About ProShares UltraPro Short S&P500

The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the fund's investment objective. The index is a measure of large-cap U.S. stock market performance. The fund is non-diversified.... SPXU Profile

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