Green day on Thursday for Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF after gaining 4.6%

The Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF price gained 4.60% on the last trading day (Thursday, 26th May 2022), rising from $193.82 to $202.73. , and has now gained 3 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 day the ETF fluctuated 5.45% from a day low at $197.02 to a day high of $207.75. The price has risen in 8 of the last 10 days and is up by 37.51% over the past 2 weeks. Volume fell on the last day by -261 thousand shares and in total, 852 thousand shares were bought and sold for approximately $172.74 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 upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $211.01 will firstly indicate a stronger rate of rising.Given the current short-term trend, the ETF is expected to rise 19.66% during the next 3 months and, with a 90% probability hold a price between $182.68 and $252.49 at the end of this 3-month period.

Mostly positive signals in the chart today. The Direxion Dly S&P Oil&Gs Ex&Prd Bl 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 $179.19 and $172.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 09, 2022, and so far it has risen 39.43%. 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). 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.

On the downside, the ETF finds support just below today's level from accumulated volume at $170.34 and $169.19.There is 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 Dly S&P Oil&Gs Ex&Prd Bl 3X finds support just below today's level at $170.34. If this is broken, then the next support from accumulated volume will be at $169.19 and $153.43.

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 $10.73 between high and low, or 5.45%. For the last week, the ETF has had a daily average volatility of 7.29%.

Direxion Dly S&P Oil&Gs Ex&Prd Bl 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.