VelocityShares 3x Long Natural Gas ETN Forecast and Stock Analysis
Technical UGAZ stock analysis for February 15, 2019.
VelocityShares 3x Long Natural Gas ETN gained 4.96% in the last trading day, rising from $27.85 to $29.23 The price has been going up and down for this period, and there has been a -12.95% loss for the last 2 weeks. Volume fell in the last day by -0.27 million shares, and in total, 6.63 million shares bought and sold for approximately $193.78 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.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the UGAZ stock was $29.23. This is 4.96% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 5.17% from a day low at $27.87 to a day high of $29.31.
30 day high of the UGAZ stock price was $65.44 and low was $26.85.
90 day high was $193.99 and low was $26.85.
52 week high for the VelocityShares 3x Long Natural Gas ETN - $260.23 and low - $26.85.
VelocityShares 3x Long Natural Gas ETN lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $39.17 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -79.52% during the next 3 months and, with 90% probability hold a price between $-7.80 and $8.02 at the end of this period.
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. VelocityShares 3x Long Natural Gas ETN holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $41.18. On a fall, the stock will find some support from the short-term average at $28.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday February 12, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 26 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
VelocityShares 3x Long Natural Gas ETN finds support from accumulated volume at $28.62.
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 $1.44 between high and low, or 5.17%. For the last week, the stock has had a daily average volatility of 5.65%.
VelocityShares 3x Long Natural Gas ETN is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
VelocityShares 3x Long Natural Gas ETN holds several negative signals and is within a very 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 stock.