UGAZ - VelocityShares 3x Long Natural Gas ETN

Exchange: NYSEARCA

UGAZ - VelocityShares 3x Long Natural Gas ETN

Exchange: NYSEARCA
#10()/7535

Wed 17'th Oct 2018

PERIOD 2018-07-18 - 2018-10-17
CHANGE 6.52%
PRICE $94.89
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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VelocityShares 3x Long Natural Gas ETN Stock Analysis

Technical stock analysis for Wed 17'th Oct 2018

Buy candidate since 2018-10-12 Gain 15.62%
Shorts n/a
Cash n/a
Loans n/a
Beta -0.47
ROA n/a

VelocityShares 3x Long Natural Gas ETN gained 6.52% in the last trading day, rising from $89.08 to $94.89 The price has fallen in 6 of the last 10 days , but is still up by 7.23% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.69 million more shares were traded than the day before. In total, 1.24 million shares bought and sold for approximately $117.43 million.

Trend

VelocityShares 3x Long Natural Gas ETN has broken the very wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $93.55, a level that may pose a second chance to hit a runner. According to fan-theory $121.59 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

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Signals

Only positive signals in the chart today. VelocityShares 3x Long Natural Gas ETN holds buy signals from both short- and long-term moving averages. In addition, 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 $88.71 and $71.60. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday October 12, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

RSI14 is 67 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $88.49 and $83.42.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, VelocityShares 3x Long Natural Gas ETN finds support just below today's level at $88.49. If this is broken, then the next support from accumulated volume will be at $83.42 and $73.92.

Support: $88.49 Price: $94.89

Risk

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 $6.30 between high and low, or 7.07%. For the last week, the stock has had a daily average volatility of 5.88%.

Our recommended stoploss: $90.16 (-4.98%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

VelocityShares 3x Long Natural Gas ETN holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

Strong Buy Candidate

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