PROSHARES ULTRA OIL & GAS PROSHARES Stock Forecast
PROSHARES ULTRA OIL & GAS PROSHARES stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The PROSHARES ULTRA OIL & GAS PROSHARES stock price gained 0.727% on the last trading day (Wednesday, 17th Apr 2024), rising from £275.00 to £277.00. During the last trading day the stock fluctuated 1.70% from a day low at £273.36 to a day high of £278.00. The price has been going up and down for this period, and there has been a 0.36% gain for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 125 thousand shares were bought and sold for approximately £34.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PROSHARES ULTRA OIL & GAS PROSHARES stock with a 90% probability to be traded between £277.91 and £285.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DIG.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -0.717%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The PROSHARES ULTRA OIL & GAS PROSHARES stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 £277.00 and £276.17. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for PROSHARES ULTRA OIL & GAS PROSHARES stock
PROSHARES ULTRA OIL & GAS PROSHARES finds support from accumulated volume at £276.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £4.64 between high and low, or 1.70%. For the last week the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: £266.73 (-3.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (DIG.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS to open at £276.12, and during the day (based on 14 day Average True Range), to move between £273.39 and £280.61, which gives a possible trading interval of +/-£3.61 (+/-1.30%) up or down from last closing price. If PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS takes out the full calculated possible swing range there will be an estimated 2.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £278.00 (0.36%) than the support at £276.00 (0.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for PROSHARES ULTRA OIL & GAS PROSHARES stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.888 Buy Candidate Upgraded
Predicted Opening Price for PROSHARES ULTRA OIL & GAS PROSHARES ULTRA OIL & GAS of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £276.12 ( 0.318%) | £277.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 280.76 | 1.36 % | |
| R2 | 278.99 | 0.718 % | ||
| R1 | 277.89 | 0.322 % | ||
| Current price: | 277.00 | |||
| Support | S1 | 274.35 | -0.96 % | |
| S2 | 273.25 | -1.35 % | ||
| S3 | 271.48 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 279.00 | 0.722 % | ||
| R1 | 278.00 | 0.361 % | ||
| Current price | 277.00 | |||
| Support | S1 | 276.00 | -0.361% | |
| S2 | 274.00 | -1.08% | ||
| S3 | 272.00 | -1.81% |
DIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 31, 2024 | £4.15 | 1.50% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 29, 2024 | £0.0320 | 0.0117% |
| 3 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | £0.0320 | 0.0122% |
| 4 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.0320 | 0.0116% |
| 5 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £4.10 | 1.37% |
FAQ
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