Direxion Daily Jr Gld Mnrs Bull 3X ETF Forecast
Stronger technical forecast for Direxion Daily Jr Gld Mnrs Bull 3X ETF price after Thursday trading.
(Updated on Mar 28, 2024)
The Direxion Daily Jr Gld Mnrs Bull 3X ETF price gained 4.19% on the last trading day (Thursday, 28th Mar 2024), rising from $31.98 to $33.32. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 4.66% from a day low at $32.09 to a day high of $33.59. The price has risen in 6 of the last 10 days and is up by 10.29% 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, 389 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $58.87 million.
The ETFis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $33.87 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Direxion Daily Jr Gld Mnrs Bull 3X ETF with a 90% probability to be traded between $22.26 and $33.84 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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JNUG Signals & Forecast
The Direxion Daily Jr Gld Mnrs 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 $30.69 and $27.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 49.55%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 Jr Gld Mnrs Bull 3X ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $30.74 and $30.02. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Direxion Daily Jr Gld Mnrs Bull 3X finds support just below today's level at $30.74. If this is broken, then the next support from accumulated volume will be at $30.02 and $27.43.
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 $1.50 between high and low, or 4.66%. For the last week, the ETF has had daily average volatility of 4.95%.
Our recommended stop-loss: $31.74 (-4.73%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (JNUG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Direxion Daily Jr Gld Mnrs Bull 3X ETF to open at $33.00, and during the day (based on 14 day Average True Range), to move between $31.70 and $34.94, which gives a possible trading interval of +/-$1.62 (+/-4.86%) up or down from last closing price. If Direxion Daily Jr Gld Mnrs Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 9.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.89 (1.71%) than the support at $30.74 (7.74%), 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 Bull 3X ETF ETF A Buy?
Direxion Daily Jr Gld Mnrs Bull 3X holds several positive signals and is considered to be a good choice at current levels. We expect the Direxion Daily Jr Gld Mnrs Bull 3X ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.467 Strong Buy Candidate Upgraded
Predicted Opening Price for Direxion Daily Jr Gld Mnrs Bull 3X ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$33.00 ( 0.97%) | $33.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JNUG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.49 | 3.52 % | |
R2 | 33.92 | 1.81 % | ||
R1 | 33.57 | 0.749 % | ||
Current price: | 33.32 | |||
Support | S1 | 32.43 | -2.68 % | |
S2 | 32.07 | -3.74 % | ||
S3 | 31.50 | -5.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 33.89 | 1.71 % | ||
Current price | 33.32 | |||
Support | S1 | 30.74 | -7.74% | |
S2 | 30.02 | -9.90% | ||
S3 | 27.43 | -17.68% |
JNUG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.350 | 1.18% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.121 | 0.343% |
3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.132 | 0.503% |
4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.128 | 0.420% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.168 | 0.407% |
FAQ
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