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SHNY Stock Tickeron detected bullish ETF Pattern: Triangle Symmetrical Bottom SHNY on August 16, 2024, netting in a 33.58% gain over 1 month

A.I.dvisor
at Tickeron.com
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+33.58% Gain from a Successful pattern Triangle Symmetrical Bottom
SHNY - MicroSectors™ Gold 3X Leveraged ETN
Tickeron
Ticker: SHNY
Company: MicroSectors™ Gold 3X Leveraged ETN
Gain: +33.58%
Confirmed: 08/16/24
Succeeded: 09/24/24
Total length: 48 days
On August 07, 2024, A.I.dvisor detected a Triangle Symmetrical Bottom Pattern (Bullish) for MicroSectors™ Gold 3X Leveraged ETN (SHNY, $35.39). On August 16, 2024, A.I.dvisor confirmed the Bullish pattern, setting a target price of $46.93. 39 days later, on September 24, 2024, SHNY reached the target price resulting in a +3 for traders who took a long position in the stock.

SHNY's Stochastic Oscillator is staying in oversold zone for 5 days

The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where SHNY's RSI Oscillator exited the oversold zone, of 6 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHNY advanced for three days, in of 110 cases, the price rose further within the following month. The odds of a continued upward trend are .

SHNY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on December 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SHNY as a result. In of 34 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for SHNY turned negative on December 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 16 similar instances when the indicator turned negative. In of the 16 cases the stock turned lower in the days that followed. This puts the odds of success at .

SHNY moved below its 50-day moving average on December 12, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SHNY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

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SHNY
Daily Signalchanged days ago
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General Information

Category Trading

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Fundamentals
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Category
Trading--Leveraged Commodities
Address
100 King Street West, 1 First Canadian PlaceToronto, Ontario, M5X 1A1.Toronto
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