Direxion Daily S&P500 Bull 3X ETF Forecast

$134.08
+3.27 (+2.50%)
At Close: Mar 27, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Direxion Daily S&P500 Bull 3X ETF upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Nov 02, 2023 Gain 70.65% PDF

The Direxion Daily S&P500 Bull 3X ETF price gained 2.50% on the last trading day (Wednesday, 27th Mar 2024), rising from $130.81 to $134.08. During the last trading day the ETF fluctuated 2.13% from a day low at $131.34 to a day high of $134.14. The price has been going up and down for this period, and there has been a 4.17% gain for the last 2 weeks. Volume fell on the last day by -965 thousand shares and in total, 5 million shares were bought and sold for approximately $605.90 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 middle of a strong 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 33.31% during the next 3 months and, with a 90% probability hold a price between $172.34 and $181.72 at the end of this 3-month period.

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SPXL Signals & Forecast

The Direxion Daily S&P500 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 $132.13 and $124.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 31, 2024, and so far it has risen 24.73%. 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. 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 S&P500 Bull 3X ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $117.56 and $111.61. 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 S&P500 Bull 3X finds support just below today's level at $117.56. If this is broken, then the next support from accumulated volume will be at $111.61 and $110.92.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $2.80 between high and low, or 2.13%. For the last week, the ETF has had daily average volatility of 1.39%.

Our recommended stop-loss: $129.68 (-3.28%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (SPXL) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Direxion Daily S&P500 Bull 3X ETF to open at $133.19, and during the day (based on 14 day Average True Range), to move between $130.95 and $137.21, which gives a possible trading interval of +/-$3.13 (+/-2.33%) up or down from last closing price. If Direxion Daily S&P500 Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $117.56, some $16.52 (12.32%) from the current price of $134.08, our system finds the risk reward attractive.

Is Direxion Daily S&P500 Bull 3X ETF ETF A Buy?

Direxion Daily S&P500 Bull 3X holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.091 Strong Buy Candidate Upgraded

Predicted Opening Price for Direxion Daily S&P500 Bull 3X ETF of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$133.19 ( 0.666%) $134.08

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SPXL

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 135.99 1.42 %
R2 134.92 0.624 %
R1 134.26 0.131 %
Current price: 134.08
Support S1 132.12 -1.46 %
S2 131.46 -1.96 %
S3 130.39 -2.75 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 134.08
Support S1 117.56 -12.32%
S2 111.61 -16.76%
S3 110.92 -17.27%

SPXL Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 18, 2024 Mar 19, 2024 Mar 26, 2024 $0.395 0.302%
2 Dec 21, 2023 Dec 21, 2023 Dec 21, 2023 $0.304 0.297%
3 Mar 23, 2023 Sep 19, 2023 Sep 26, 2023 $0.194 0.250%
4 Mar 23, 2023 Jun 21, 2023 Jun 28, 2023 $0.258 0.299%
5 Mar 20, 2023 Mar 21, 2023 Mar 28, 2023 $0.262 0.396%

FAQ

What is the symbol for Direxion Daily S&P500 Bull 3X ETF ETF and on which exchange is it traded?
The symbol for Direxion Daily S&P500 Bull 3X ETF is SPXL and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell Direxion Daily S&P500 Bull 3X ETF ETF?
Direxion Daily S&P500 Bull 3X holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

How to buy Direxion Daily S&P500 Bull 3X ETF ETF?
Direxion Daily S&P500 Bull 3X ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Direxion Daily S&P500 Bull 3X ETF ETF.

What's the current price of Direxion Daily S&P500 Bull 3X ETF ETF?
As of the end of day on the 2024-03-27, the price of an Direxion Daily S&P500 Bull 3X ETF (SPXL) share was $134.08.

What is the 52-week high and low for Direxion Daily S&P500 Bull 3X ETF ETF?
The 52-week high for Direxion Daily S&P500 Bull 3X ETF ETF is $135.20 and the 52-week low is $65.24.

What is the market capitalization of Direxion Daily S&P500 Bull 3X ETF ETF?
As of the 2024-03-27, the market capitalization of Direxion Daily S&P500 Bull 3X ETF is 3.974B.
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About Direxion Daily S&P500 Bull 3X ETF

SPXL was created on 11/05/08 by Direxion. The ETF provides daily leveraged exposure to the S&P 500, an index of mostly large-cap US equities.... SPXL Profile

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