Direxion Daily Gold Miners Bear 3X ETF Forecast
Green day on Monday for Direxion Daily Gold Miners Bear 3X
(Updated on Apr 15, 2024)
The Direxion Daily Gold Miners Bear 3X ETF price gained 1.22% on the last trading day (Monday, 15th Apr 2024), rising from $8.17 to $8.27. During the last trading day the ETF fluctuated 6.96% from a day low at $7.97 to a day high of $8.53. The price has been going up and down for this period, and there has been a -9.12% loss for the last 2 weeks. Volume fell on the last day by -8 million shares and in total, 13 million shares were bought and sold for approximately $111.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.66 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -30.38% during the next 3 months and, with a 90% probability hold a price between $5.34 and $8.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
DUST Signals & Forecast
There are mixed signals in the ETF today. The Direxion Daily Gold Miners Bear 3X ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $10.40. On a fall, the ETF will find some support from the short-term average at $8.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 5.62%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Direxion Daily Gold Miners Bear 3X ETF
Direxion Daily Gold Miners Bear 3X finds support from accumulated volume at $8.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.555 between high and low, or 6.96%. For the last week, the ETF has had daily average volatility of 7.53%.
Direxion Daily Gold Miners Bear 3X is oversold on RSI14 (24). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DUST) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Direxion Daily Gold Miners Bear 3X ETF to open at $8.26, and during the day (based on 14 day Average True Range), to move between $7.70 and $8.84, which gives a possible trading interval of +/-$0.570 (+/-6.89%) up or down from last closing price. If Direxion Daily Gold Miners Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 13.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.21 (0.73%) than the resistance at $8.48 (2.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Direxion Daily Gold Miners Bear 3X ETF ETF A Buy?
Direxion Daily Gold Miners Bear 3X holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -2.879 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Gold Miners Bear 3X ETF of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $8.26 ( 0.181%) | $8.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DUST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.81 | 6.53 % | |
| R2 | 8.60 | 3.97 % | ||
| R1 | 8.47 | 2.38 % | ||
| Current price: | 8.27 | |||
| Support | S1 | 8.04 | -2.74 % | |
| S2 | 7.91 | -4.33 % | ||
| S3 | 7.70 | -6.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.10 | 10.04 % | |
| R2 | 8.90 | 7.62 % | ||
| R1 | 8.48 | 2.54 % | ||
| Current price | 8.27 | |||
| Support | S1 | 8.21 | -0.726% | |
| S2 | 8.17 | -1.21% | ||
| S3 | 8.12 | -1.81% |
DUST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.152 | 1.44% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0640 | 0.640% |
| 3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.137 | 0.99% |
| 4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0980 | 0.761% |
| 5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.157 | 1.45% |
FAQ
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