3X Long Silver ETN Velocityshares Forecast and Stock Analysis
Technical USLV stock analysis for March 22, 2019.
3X Long Silver ETN Velocityshares fell by -0.82% in the last day from $70.81 to $70.23 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 0.91% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -66 092 shares and in total 83 211 shares bought and sold for approximately $5.84 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the USLV stock was $70.23. This is 0.82% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 1.64% from a day low at $69.59 to a day high of $70.73.
30 day high of the USLV stock price was $83.42 and low was $64.69.
90 day high was $83.61 and low was $63.60.
52 week high for the 3X Long Silver ETN Velocityshares - $83.61 and low - $5.65.
3X Long Silver ETN Velocityshares 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 stock is expected to fall -5.48% during the next 3 months and, with 90% probability hold a price between $60.93 and $75.09 at the end of this period.
Some negative signals were issued as well, and these may have some influence on the near short-term development. 3X Long Silver ETN Velocityshares 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 $73.28. On a fall, the stock will find some support from the short-term average at $69.55. 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 Wednesday March 20, 2019, which indicates further falls 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.
Relative Strength Index (RSI)
RSI14 is 61 and the stock is currently not being overbought or oversold
Support & Resistance
3X Long Silver ETN Velocityshares finds support from accumulated volume at $68.53.
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 $1.14 between high and low, or 1.64%. For the last week, the stock has had a daily average volatility of 2.79%.
Our recommended stoploss: $66.66 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
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3X Long Silver ETN Velocityshares holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.