(UWM) ProShares Ultra Russell2000 - Ratings and Ratios

ProShares Ultra Russell2000 (NYSE ARCA:UWM) is a leveraged exchange-traded fund (ETF) designed to provide daily returns that are twice the daily performance of the Russell 2000 Index. The fund achieves this by investing in a combination of financial instruments, such as futures contracts, swaps, and other derivatives. The Russell 2000 Index is a market capitalization-weighted index that includes approximately 2000 of the smallest companies in the Russell 3000 Index, representing about 10% of the total market capitalization of the Russell 3000. The fund is considered non-diversified, meaning it can concentrate its holdings in a smaller number of securities, which may increase volatility. UWM is part of ProShares lineup of leveraged ETFs, offering traders and investors a tool for magnifying exposure to small-cap U.S. equities. Additional information can be found at http://www.proshares.com.

Based on the provided data, here is a 3-month forecast for UWM:

1 Month Outlook: The funds price is currently below its 20-day and 50-day moving averages (42.54 and 42.93, respectively), indicating bearish momentum. With an ATR of 1.39, the price could decline further, potentially testing the 38.20 - 36.81 range.

2 Month Outlook: If the downward trend persists, UWM may breach the 36.81 level, with potential support around 35.00. However, this would depend on broader market conditions and the performance of small-cap equities.

3 Month Outlook: By the end of the third month, UWM could rebound if the Russell 2000 Index stabilizes or shows signs of recovery. A potential target range is 40.00 - 42.00, contingent on the fund breaking above its 200-day moving average of 41.83.