ProShares UltraPro Short Russell2000 ETF Forecast

$25.38
-0.250 (-0.98%)
At Close: Mar 28, 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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ProShares UltraPro Short Russell2000 ETF price ended at $25.38 on Thursday, after losing 0.98%.
(Updated on Mar 28, 2024)

Sell candidate since Mar 26, 2024 Loss -7.14% PDF

The ProShares UltraPro Short Russell2000 ETF price fell by -0.98% on the last day (Thursday, 28th Mar 2024) from $25.63 to $25.38. During the last trading day the ETF fluctuated 2.94% from a day low at $24.81 to a day high of $25.54. The price has fallen in 7 of the last 10 days and is down by -13.32% 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 -764 thousand shares and in total, 1 million shares were bought and sold for approximately $35.81 million.

The ETF lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $25.06 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -20.69% during the next 3 months and, with a 90% probability hold a price between $19.88 and $23.62 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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SRTY Signals & Forecast

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. The ProShares UltraPro Short Russell2000 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 $26.61 and $28.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 13, 2024, and so far it has fallen -22.46%. 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 Russell2000 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 $0.730 between high and low, or 2.94%. For the last week, the ETF has had daily average volatility of 3.80%.

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

Trading Expectations (SRTY) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect ProShares UltraPro Short Russell2000 to open at $25.24, and during the day (based on 14 day Average True Range), to move between $24.06 and $26.70, which gives a possible trading interval of +/-$1.32 (+/-5.22%) up or down from last closing price. If ProShares UltraPro Short Russell2000 takes out the full calculated possible swing range there will be an estimated 10.43% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $25.63, some $0.250 (0.99%) from the current price of $25.38, our system finds the risk reward not very attractive.

Is ProShares UltraPro Short Russell2000 ETF A Buy?

ProShares UltraPro Short Russell2000 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: -4.753 Sell Candidate Unchanged

Predicted Opening Price for ProShares UltraPro Short Russell2000 of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$25.24 ( 0.538%) $25.38

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

Trading levels for SRTY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 25.97 2.34 %
R2 25.69 1.24 %
R1 25.52 0.560 %
Current price: 25.38
Support S1 24.96 -1.64 %
S2 24.79 -2.32 %
S3 24.51 -3.41 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 30.47 20.06 %
R2 29.28 15.37 %
R1 25.63 0.99 %
Current price 25.38
Support S1 0 .
S2 0 .
S3 0 .

SRTY Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 20, 2024 Mar 20, 2024 Mar 27, 2024 $0.374 1.46%
2 Dec 20, 2023 Dec 20, 2023 Dec 20, 2023 $0.487 1.51%
3 Jan 06, 2023 Sep 20, 2023 Sep 27, 2023 $0.374 0.781%
4 Jan 06, 2023 Jun 21, 2023 Jun 28, 2023 $0.355 0.84%
5 Jan 06, 2023 Mar 22, 2023 Mar 29, 2023 $0.275 0.543%

FAQ

What is the symbol for ProShares UltraPro Short Russell2000 ETF and on which exchange is it traded?
The symbol for ProShares UltraPro Short Russell2000 is SRTY and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell ProShares UltraPro Short Russell2000 ETF?
ProShares UltraPro Short Russell2000 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 Russell2000 ETF?
ProShares UltraPro Short Russell2000 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 Russell2000 ETF.

What's the current price of ProShares UltraPro Short Russell2000 ETF?
As of the end of day on the 2024-03-28, the price of an ProShares UltraPro Short Russell2000 (SRTY) share was $25.38.

What is the 52-week high and low for ProShares UltraPro Short Russell2000 ETF?
The 52-week high for ProShares UltraPro Short Russell2000 ETF is $61.49 and the 52-week low is $24.81.

What is the market capitalization of ProShares UltraPro Short Russell2000 ETF?
As of the 2024-03-28, the market capitalization of ProShares UltraPro Short Russell2000 is 133.731M.
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About ProShares UltraPro Short Russell2000

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 small-cap U.S. stock market performance. The fund is non-diversified.... SRTY Profile

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