Direxion Daily AAPL Bear 1X Shares ETF Forecast
Stronger technical forecast for Direxion Daily AAPL Bear 1X Shares ETF price after Thursday trading.
(Updated on May 09, 2024)
The Direxion Daily AAPL Bear 1X Shares ETF price fell by -0.85% on the last day (Thursday, 9th May 2024) from $21.25 to $21.07. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.33% from a day low at $21.06 to a day high of $21.34. The price has fallen in 6 of the last 10 days and is down by -8.15% 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 -9 thousand shares and in total, 129 thousand shares were bought and sold for approximately $2.72 million.
Given the current short-term trend, the ETF is expected to rise 4.46% during the next 3 months and, with a 90% probability hold a price between $22.01 and $24.91 at the end of this 3-month period.
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AAPD Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily AAPL Bear 1X Shares 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 $21.68 and $22.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -10.76%. Further fall is indicated until a new bottom pivot has been found. 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 Direxion Daily AAPL Bear 1X Shares ETF
Direxion Daily AAPL Bear 1X Shares finds support from accumulated volume at $21.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.280 between high and low, or 1.33%. For the last week, the ETF has had daily average volatility of 1.71%.
Direxion Daily AAPL Bear 1X Shares is oversold on RSI14 (20). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $19.83 (-5.89%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (AAPD) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Direxion Daily AAPL Bear 1X Shares to open at $21.16, and during the day (based on 14 day Average True Range), to move between $20.59 and $21.55, which gives a possible trading interval of +/-$0.485 (+/-2.30%) up or down from last closing price. If Direxion Daily AAPL Bear 1X Shares takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.06 (0.05%) than the resistance at $21.19 (0.57%), 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 AAPL Bear 1X Shares ETF A Buy?
Direxion Daily AAPL Bear 1X Shares holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.378 Hold/Accumulate Upgraded
Predicted Opening Price for Direxion Daily AAPL Bear 1X Shares of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
$21.16 ( 0.411%) | $21.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAPD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.44 | 1.74 % | |
R2 | 21.33 | 1.23 % | ||
R1 | 21.26 | 0.92 % | ||
Current price: | 21.07 | |||
Support | S1 | 21.05 | -0.0973 % | |
S2 | 20.98 | -0.411 % | ||
S3 | 20.88 | -0.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.97 | 9.02 % | |
R2 | 22.92 | 8.78 % | ||
R1 | 21.19 | 0.570 % | ||
Current price | 21.07 | |||
Support | S1 | 21.06 | -0.0475% | |
S2 | 20.83 | -1.14% | ||
S3 | 0 | . |
AAPD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.176 | 0.767% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.264 | 1.31% |
3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.193 | 0.85% |
4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.243 | 1.18% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.183 | 0.740% |
FAQ
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