Direxion Daily Jr Gld Mnrs Bear 3X ETF Forecast
Direxion Daily Jr Gld Mnrs Bear 3X ETF price ended at $4.11 on Friday, after losing 2.38%.
(Updated on Apr 19, 2024)
The Direxion Daily Jr Gld Mnrs Bear 3X ETF price fell by -2.38% on the last day (Friday, 19th Apr 2024) from $4.21 to $4.11. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 4.46% from a day low at $4.03 to a day high of $4.21. The price has fallen in 6 of the last 10 days and is down by -1.91% for this period. Volume has increased on the last day by 3 million 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, 11 million shares were bought and sold for approximately $43.71 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -37.29% during the next 3 months and, with a 90% probability hold a price between $2.28 and $3.66 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.
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JDST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 3.53%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily Jr Gld Mnrs Bear 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 $4.18 and $5.11. A break-up above any of these levels will issue buy signals. 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 Jr Gld Mnrs Bear 3X ETF
Direxion Daily Jr Gld Mnrs Bear 3X finds support from accumulated volume at $4.02 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 $0.180 between high and low, or 4.46%. For the last week, the ETF has had daily average volatility of 5.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JDST) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Direxion Daily Jr Gld Mnrs Bear 3X ETF to open at $4.12, and during the day (based on 14 day Average True Range), to move between $3.81 and $4.41, which gives a possible trading interval of +/-$0.299 (+/-7.28%) up or down from last closing price. If Direxion Daily Jr Gld Mnrs Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 14.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.13 (0.49%) than the support at $4.02 (2.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Direxion Daily Jr Gld Mnrs Bear 3X ETF ETF A Buy?
Direxion Daily Jr Gld Mnrs Bear 3X holds several negative signals and is within a very 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.
Current score: -2.593 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Jr Gld Mnrs Bear 3X ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $4.12 ( 0.162%) | $4.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JDST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.30 | 4.54 % | |
| R2 | 4.23 | 2.87 % | ||
| R1 | 4.19 | 1.83 % | ||
| Current price: | 4.11 | |||
| Support | S1 | 4.05 | -1.51 % | |
| S2 | 4.01 | -2.54 % | ||
| S3 | 3.94 | -4.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.91 | 19.46 % | |
| R2 | 4.23 | 2.92 % | ||
| R1 | 4.13 | 0.487 % | ||
| Current price | 4.11 | |||
| Support | S1 | 4.02 | -2.19% | |
| S2 | 3.97 | -3.41% | ||
| S3 | 0 | . |
JDST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0898 | 1.62% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0240 | 0.454% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0810 | 1.01% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0520 | 0.685% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.107 | 1.77% |
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