ProShares Ultra VIX Short-Term Futures ETF Forecast

ProShares Ultra VIX Short-Term Futures ETF price up 2.77% on Thursday
(Updated on Apr 25, 2024)

UVXY Signals & Forecast

The ProShares Ultra VIX Short-Term Futures ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $36.49. On a fall, the ETF will find some support from the long-term average at approximately $16.25. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -15.69%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for ProShares Ultra VIX Short-Term Futures ETF

ProShares Ultra VIX Short-Term Futures finds support from accumulated volume at $33.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $2.73 between high and low, or 8.01%. For the last week, the ETF has had daily average volatility of 6.98%.

Our recommended stop-loss: $32.64 (-5.42%) (This ETF has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (UVXY) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect ProShares Ultra VIX Short-Term Futures to open at $35.10, and during the day (based on 14 day Average True Range), to move between $31.42 and $37.60, which gives a possible trading interval of +/-$3.09 (+/-8.96%) up or down from last closing price. If ProShares Ultra VIX Short-Term Futures takes out the full calculated possible swing range there will be an estimated 17.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $33.69 (2.38%) than the resistance at $38.14 (10.52%), 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 Ultra VIX Short-Term Futures ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ProShares Ultra VIX Short-Term Futures ETF to perform well in the short-term.

Current score: 1.635 Buy Candidate Unchanged

Predicted Opening Price for ProShares Ultra VIX Short-Term Futures of Friday, April 26, 2024

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