Technical Analysis for SBIT - ProShares UltraShort Bitcoin ETF

Grade Last Price % Change Price Change
F 11.25 -2.43% -0.28
SBIT closed down 2.43 percent on Friday, November 22, 2024, on 2.83 times normal volume. The bears made the stock sink to a new 52-week low. Due to the stock's strong downtrend, it may remain oversold for a while. So, if you're looking for a reason to buy, don't put too much weight on it being oversold.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Strong N/A Down Down

Date Alert Name Type % Chg
New 52 Week Closing Low Bearish 0.00%
Narrow Range Bar Range Contraction 0.00%
New 52 Week Low Weakness 0.00%
Wide Bands Range Expansion 0.00%
Down 3 Days in a Row Weakness 0.00%
Down 4 Days in a Row Weakness 0.00%
Down 5 Days in a Row Weakness 0.00%
Oversold Stochastic Weakness 0.00%
New 52 Week Closing Low Bearish -2.43%
Volume Surge Other -2.43%

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ProShares UltraShort Bitcoin ETF Description

SBIT is a bearish one-day bet against Bitcoin, seeking to provide double the inverse daily returns of its underlying Bitcoin index. The index, maintained by Bloomberg Index Services Limited, is designed as a proxy for the Bitcoin market. The index price is a composite of US Dollar-Bitcoin trading activities reported by digital asset platforms. The fund does not directly short Bitcoin. The fund primarily invests in swap agreements to obtain inverse exposure to the index. If the fund is unable to gain its desired exposure to Bitcoin, it may also invest in other instruments, such as cash-settled CME Bitcoin futures. The fund also holds money market instruments for necessary collateral. It gains exposure by utilizing a wholly owned Cayman Islands subsidiary. The returns of the fund can vary significantly from -2x exposure if held for longer than a day. As an inverse product with daily resets, the fund is designed as a short-term trading tool and not a long-term investment vehicle.


Classification

Keywords: Exchange Traded Funds Bitcoin Futures Markets Economics Of Bitcoin Short Term Trading Tool Market Sentiment Bitcoin/Us Dollar Fx Spot Rate Composite Display Fx Spot Rate

Is SBIT a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 56.402
52 Week Low 11.13
Average Volume 1,824,562
200-Day Moving Average 0.00
50-Day Moving Average 26.26
20-Day Moving Average 18.49
10-Day Moving Average 13.22
Average True Range 1.76
RSI (14) 21.88
ADX 37.04
+DI 13.09
-DI 46.15
Chandelier Exit (Long, 3 ATRs) 23.44
Chandelier Exit (Short, 3 ATRs) 16.41
Upper Bollinger Bands 29.70
Lower Bollinger Band 7.28
Percent B (%b) 0.18
BandWidth 121.22
MACD Line -4.56
MACD Signal Line -4.20
MACD Histogram -0.3595
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 12.15
Resistance 3 (R3) 12.21 11.97 12.00
Resistance 2 (R2) 11.97 11.74 11.94 11.95
Resistance 1 (R1) 11.61 11.60 11.49 11.55 11.90
Pivot Point 11.37 11.37 11.31 11.34 11.37
Support 1 (S1) 11.01 11.14 10.89 10.95 10.60
Support 2 (S2) 10.77 11.00 10.74 10.55
Support 3 (S3) 10.41 10.77 10.50
Support 4 (S4) 10.35