PROSHARES ULTRAPRO S&P 500 - Daily - Technical analysis published on 06/06/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 70.59 USD
My targets
75.13 USD (+2.89%)
77.61 USD (+6.29%)
My analysis
The bullish trend is currently very strong on PROSHARES ULTRAPRO S&P 500. As long as the price remains above the support at 70.59 USD, you could try to benefit from the boom. The first bullish objective is located at 75.13 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 77.61 USD as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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This analysis was given by Smurph77. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PROSHARES ULTRAPRO S&P 500 rating 73.02 USD. On the day, this instrument gained +3.55% and was traded between 70.65 USD and 73.05 USD over the period. The price is currently at +3.35% from its lowest and -0.04% from its highest.70.65
73.05
73.02
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of PROSHARES ULTRAPRO S&P 500 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 51.62 | 56.61 | 70.59 | 73.02 | 77.61 |
| Change (%) | -29.31% | -22.47% | -3.33% | - | +6.29% |
| Change | -21.40 | -16.41 | -2.43 | - | +4.59 |
| Level | Minor | Major | Intermediate | - | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.03 | 69.84 | 71.43 | 72.24 | 73.83 | 74.64 | 76.23 |
| Camarilla | 72.36 | 72.58 | 72.80 | 73.02 | 73.24 | 73.46 | 73.68 |
| Woodie | 69.42 | 70.04 | 71.82 | 72.44 | 74.22 | 74.84 | 76.62 |
| Fibonacci | 69.84 | 70.76 | 71.32 | 72.24 | 73.16 | 73.72 | 74.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.40 | 64.52 | 67.35 | 69.47 | 72.30 | 74.42 | 77.25 |
| Camarilla | 68.81 | 69.26 | 69.72 | 70.17 | 70.62 | 71.08 | 71.53 |
| Woodie | 62.75 | 64.70 | 67.70 | 69.65 | 72.65 | 74.60 | 77.60 |
| Fibonacci | 64.52 | 66.41 | 67.58 | 69.47 | 71.36 | 72.53 | 74.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 50.47 | 55.43 | 62.80 | 67.76 | 75.13 | 80.09 | 87.46 |
| Camarilla | 66.78 | 67.91 | 69.04 | 70.17 | 71.30 | 72.43 | 73.56 |
| Woodie | 51.68 | 56.03 | 64.01 | 68.36 | 76.34 | 80.69 | 88.67 |
| Fibonacci | 55.43 | 60.14 | 63.05 | 67.76 | 72.47 | 75.38 | 80.09 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 64.04 | |
| MACD (12,26,9): | 1.3100 | |
| Directional Movement: | 3.25 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 71.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 66.65 | |
| Elder Ray (13): | 1.44 | |
| Super Trend (3,10): | 66.94 | |
| Zig ZAG (10): | 73.02 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 74.69 | |
| TEMA (21): | 71.93 | |
| Williams %R (14): | -0.47 | |
| Chande Momentum Oscillator (20): | 1.58 | |
| Repulse (5,40,3): | 6.1500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3100 | |
| Courbe Coppock: | 4.07 |
| MA7: | 70.51 | |
| MA20: | 70.22 | |
| MA50: | 67.20 | |
| MA100: | 64.92 | |
| MAexp7: | 70.94 | |
| MAexp20: | 69.72 | |
| MAexp50: | 67.54 | |
| MAexp100: | 64.18 | |
| Price / MA7: | +3.56% | |
| Price / MA20: | +3.99% | |
| Price / MA50: | +8.66% | |
| Price / MA100: | +12.48% | |
| Price / MAexp7: | +2.93% | |
| Price / MAexp20: | +4.73% | |
| Price / MAexp50: | +8.11% | |
| Price / MAexp100: | +13.77% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
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