LABU ETF Forecast
LABU ETF price down 2.67% on Wednesday
(Updated on Apr 24, 2024)
The LABU ETF price fell by -2.67% on the last day (Wednesday, 24th Apr 2024) from $91.85 to $89.40. During the last trading day the ETF fluctuated 6.33% from a day low at $88.68 to a day high of $94.29. The price has fallen in 7 of the last 10 days and is down by -19.69% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -1 million shares and in total, 2 million shares were bought and sold for approximately $149.05 million.
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 $84.78 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -14.36% during the next 3 months and, with a 90% probability hold a price between $72.60 and $134.56 at the end of this 3-month period.
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LABU Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.89%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The LABU 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 $90.23 and $119.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for LABU ETF
LABU finds support from accumulated volume at $88.83 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 $5.61 between high and low, or 6.33%. For the last week, the ETF has had daily average volatility of 7.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LABU) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Direxion Daily S&P Biotech Bull 3X ETF to open at $90.79, and during the day (based on 14 day Average True Range), to move between $80.68 and $98.12, which gives a possible trading interval of +/-$8.72 (+/-9.76%) up or down from last closing price. If Direxion Daily S&P Biotech Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 19.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $88.83 (0.64%) than the resistance at $104.35 (16.72%), 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 S&P Biotech Bull 3X ETF ETF A Buy?
LABU 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: -2.774 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily S&P Biotech Bull 3X ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $90.79 ( 1.55%) | $89.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LABU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.40 | 7.83 % | |
| R2 | 94.26 | 5.43 % | ||
| R1 | 92.93 | 3.95 % | ||
| Current price: | 89.40 | |||
| Support | S1 | 88.65 | -0.84 % | |
| S2 | 87.32 | -2.32 % | ||
| S3 | 85.18 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.58 | 24.81 % | |
| R2 | 111.32 | 24.52 % | ||
| R1 | 104.35 | 16.72 % | ||
| Current price | 89.40 | |||
| Support | S1 | 88.83 | -0.638% | |
| S2 | 88.04 | -1.52% | ||
| S3 | 86.05 | -3.75% |
LABU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.161 | 0.130% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.210 | 0.200% |
| 3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0020 | 0.0026% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0090 | 0.0074% |
| 5 | Mar 13, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.0050 | 0.0004% |
FAQ
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