Direxion Daily Healthcare Bull 3X ETF Forecast
Weaker technical forecast for Direxion Daily Healthcare Bull 3X as ETF downgraded to Strong Sell Candidate.
(Updated on Apr 18, 2024)
The Direxion Daily Healthcare Bull 3X ETF price fell by -0.438% on the last day (Thursday, 18th Apr 2024) from $102.67 to $102.22. During the last trading day the ETF fluctuated 2.13% from a day low at $101.76 to a day high of $103.93. The price has fallen in 7 of the last 10 days and is down by -8.03% for this period. Volume has increased on the last day by 13 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 38 thousand shares were bought and sold for approximately $3.92 million.
Given the current horizontal trend, you can expect Direxion Daily Healthcare Bull 3X ETF with a 90% probability to be traded between $101.93 and $125.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CURE Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily Healthcare Bull 3X ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $104.57 and $116.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -19.13%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Direxion Daily Healthcare Bull 3X ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $2.17 between high and low, or 2.13%. For the last week, the ETF has had daily average volatility of 3.10%.
Direxion Daily Healthcare Bull 3X is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CURE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Direxion Daily Healthcare Bull 3X ETF to open at $102.63, and during the day (based on 14 day Average True Range), to move between $98.82 and $105.61, which gives a possible trading interval of +/-$3.40 (+/-3.32%) up or down from last closing price. If Direxion Daily Healthcare Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 6.65% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $120.32, some $18.11 (17.71%) from the current price of $102.22, our system finds the risk reward not very attractive.
Is Direxion Daily Healthcare Bull 3X ETF ETF A Buy?
Direxion Daily Healthcare Bull 3X holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.397 Strong Sell Candidate Downgraded
Predicted Opening Price for Direxion Daily Healthcare Bull 3X ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $102.63 ( 0.410%) | $102.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CURE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.80 | 2.53 % | |
| R2 | 103.97 | 1.72 % | ||
| R1 | 103.46 | 1.22 % | ||
| Current price: | 102.22 | |||
| Support | S1 | 101.81 | -0.400 % | |
| S2 | 101.29 | -0.90 % | ||
| S3 | 100.47 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.37 | 19.72 % | |
| R2 | 121.21 | 18.58 % | ||
| R1 | 120.32 | 17.71 % | ||
| Current price | 102.22 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CURE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.355 | 0.294% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.573 | 0.588% |
| 3 | Feb 17, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.454 | 0.501% |
| 4 | Feb 17, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.537 | 0.562% |
| 5 | Feb 17, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.487 | 0.536% |
FAQ
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