Direxion Daily India Bull 3X ETF Forecast
Green day on Friday for Direxion Daily India Bull 3X ETF after gaining 0.127%
(Updated on Apr 26, 2024)
The Direxion Daily India Bull 3X ETF price gained 0.127% on the last trading day (Friday, 26th Apr 2024), rising from $63.11 to $63.19. During the last trading day the ETF fluctuated 0.557% from a day low at $62.87 to a day high of $63.22. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately $1.25 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.73% during the next 3 months and, with a 90% probability hold a price between $60.94 and $66.78 at the end of this 3-month period.
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INDL Signals & Forecast
The Direxion Daily India Bull 3X ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $62.09 and $61.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.37%. Further rise is indicated until a new top pivot has been found. Direxion Daily India Bull 3X has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Direxion Daily India Bull 3X ETF
Direxion Daily India Bull 3X finds support from accumulated volume at $63.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.350 between high and low, or 0.557%. For the last week the ETF has had daily average volatility of 0.83%.
Our recommended stop-loss: $60.24 (-4.66%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (INDL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Direxion Daily India Bull 3X ETF to open at $63.09, and during the day (based on 14 day Average True Range), to move between $62.34 and $64.04, which gives a possible trading interval of +/-$0.85 (+/-1.35%) up or down from last closing price. If Direxion Daily India Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $63.14 (0.08%) than the resistance at $63.24 (0.08%), 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 India Bull 3X ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Direxion Daily India Bull 3X ETF to perform well in the short-term.
Current score: 1.310 Buy Candidate Unchanged
Predicted Opening Price for Direxion Daily India Bull 3X ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $63.09 ( 0.153%) | $63.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.44 | 0.401 % | |
| R2 | 63.31 | 0.189 % | ||
| R1 | 63.23 | 0.0586 % | ||
| Current price: | 63.19 | |||
| Support | S1 | 62.96 | -0.365 % | |
| S2 | 62.88 | -0.495 % | ||
| S3 | 62.74 | -0.707 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.03 | 1.32 % | |
| R2 | 63.70 | 0.81 % | ||
| R1 | 63.24 | 0.0791 % | ||
| Current price | 63.19 | |||
| Support | S1 | 63.14 | -0.0791% | |
| S2 | 61.74 | -2.29% | ||
| S3 | 59.58 | -5.71% |
INDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.206 | 0.343% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.275 | 0.496% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.216 | 0.449% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.264 | 0.559% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.179 | 0.473% |
FAQ
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