GraniteShares 3x Long AMD Daily Jumps 70.87%: Leveraged ETP Spike
GraniteShares 3x Long AMD Daily (3LAM.PA) recorded a stunning 70.87% spike, rallying in the pre-market session of Euronext. This leveraged Exchange Traded Product (ETP) offers investors triple exposure to AMD, sparking interest as AMD shares witnessed a bullish trend.
Recent Performance Analysis
GraniteShares 3x Long AMD Daily soared by 70.87% recently, attracting attention on the Euronext. The ETP hit a day high of €0.2266 and closed at €0.2235. This rise marks a significant recovery from its year low of €0.18, despite remaining well below its year high of €3.6.
Technical Indicators Overview
A dive into the technicals reveals an RSI of 29.67, indicating an oversold condition, while ADX stands at a strong trend level of 37.18. Additionally, the Moving Average Convergence Divergence (MACD) is hovering around -0.04, signaling a potential change in momentum.
Meyka AI Stock Grade
Meyka AI rates 3LAM.PA with a 67.5 (Grade: B, Suggestion: HOLD). This grade considers comparisons with the S&P 500, sector averages, industry position, and key financial metrics. Given its recent price movements, the ETP shows potential, yet caution is advised.
Final Thoughts
Meyka AI’s forecast model projects no significant changes, putting the current rally in perspective. With the price at €0.2235, investors should consider the volatility and leverage risks. Forecasts are model-based projections and not guarantees. Stock prices can fluctuate based on market conditions, economic factors, and company-specific events.
FAQs
The rally was driven by AMD’s strong performance, combined with GraniteShares’ triple exposure mechanism, amplifying the gains seen in AMD shares itself.
While Meyka AI suggests a ‘HOLD’ rating, investors should weigh the leverage-associated risks and overall market conditions before making decisions. Consult a financial advisor for personalized advice.
Leveraged ETPs like GraniteShares 3x Long AMD can amplify both gains and losses, making them suitable for short-term tactical plays rather than long-term holding.
While recent performance showed gains, future outlook remains uncertain due to volatility in AMD’s share performance and general market conditions. Monitoring AMD’s fundamental performance is key.
Meyka AI scores the stock based on multiple factors, including sector and industry performance and financial metrics, providing a composite score to guide investor decisions.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
