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SRS - ProShares UltraShort Real Estate

SRS - ProShares UltraShort Real Estate

#10()/6512

Mon 05'th Feb 2018

PERIOD 2017-11-06 - 2018-02-05
CHANGE 5.17%
PRICE $34.37
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

0.00%

ProShares UltraShort Real Estate Stock Analysis

Technical stock analysis for Mon 05'th Feb 2018

Shorts 10.03% ( 2013-01-15 )
Cash n/a
Loans n/a
Beta -2.11
ROA n/a
Buy candidate since 2018-01-31 Gain 11.16%

ProShares UltraShort Real Estate gained 5.17% in the last trading day, rising from $32.68 to $34.37, and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 9.42% 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, 61 373 more shares were traded than the day before. In total, 152 687 shares bought and sold for approximately $5.25 million.

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Trend

ProShares UltraShort Real Estate has broken the 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 $33.22, a level that may pose a second chance to hit a runner. According to fan-theory $36.02 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. ProShares UltraShort Real Estate 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 $32.07 and $30.79. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday January 31, 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 63 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 $32.01 and $30.56. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

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, ProShares UltraShort Real Estate finds support just below today's level at $32.01. If this is broken, then the next support from accumulated volume will be at $30.56 and $28.78.

Support: $32.01 Price: $34.37

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.14 (6.60%) between high and low. For the last week, the stock has had a daily average volatility of 3.52%.

Our recommended stoploss: $32.99 (-4.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 3 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rising rate. We conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term period.

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