ProShares UltraPro Short S&P500 ETF Forecast

$6.46
+0.0100 (+0.155%)
At Close: Mar 28, 2024

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

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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ProShares UltraPro Short S&P500 ETF price up 0.155% on Thursday
(Updated on Mar 28, 2024)

Sell candidate since Mar 15, 2024 Loss -8.63% PDF

The ProShares UltraPro Short S&P500 ETF price gained 0.155% on the last trading day (Thursday, 28th Mar 2024), rising from $6.45 to $6.46. During the last trading day the ETF fluctuated 1.09% from a day low at $6.41 to a day high of $6.48. The price has been going up and down for this period, and there has been a -6.78% loss for the last 2 weeks. Volume fell on the last day by -5 million shares and in total, 14 million shares were bought and sold for approximately $87.75 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 ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.38 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -26.76% during the next 3 months and, with a 90% probability hold a price between $4.67 and $4.97 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

A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 0.155%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $6.52 and $7.08. A break-up above any of these levels will issue buy signals.

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

ProShares UltraPro Short S&P500 finds support from accumulated volume at $6.45 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 $0.0699 between high and low, or 1.09%. For the last week, the ETF has had daily average volatility of 1.42%.

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 Monday 1st

For the upcoming trading day on Monday, 1st we expect ProShares UltraPro Short S&P500 to open at $6.45, and during the day (based on 14 day Average True Range), to move between $6.28 and $6.64, which gives a possible trading interval of +/-$0.176 (+/-2.72%) 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 5.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.45 (0.15%) than the resistance at $6.83 (5.73%), 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 S&P500 ETF A Buy?

ProShares UltraPro Short S&P500 holds several negative signals and is within a 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: -1.494 Sell Candidate Unchanged

Predicted Opening Price for ProShares UltraPro Short S&P500 of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$6.45 ( 0.154%) $6.46

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 6.52 0.93 %
R2 6.49 0.514 %
R1 6.48 0.259 %
Current price: 6.46
Support S1 6.42 -0.568 %
S2 6.41 -0.82 %
S3 6.38 -1.24 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 7.18 11.15 %
R2 7.07 9.44 %
R1 6.83 5.73 %
Current price 6.46
Support S1 6.45 -0.155%
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 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 2024-03-28, the price of an ProShares UltraPro Short S&P500 (SPXU) share was $6.46.

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 $14.61 and the 52-week low is $6.40.

What is the market capitalization of ProShares UltraPro Short S&P500 ETF?
As of the 2024-03-28, the market capitalization of ProShares UltraPro Short S&P500 is 644.398M.
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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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