Direxion Shares Etf Trust ETF Forecast
Green day on Friday for Direxion Shares Etf Trust ETF after gaining 0.415%
(Updated on Jun 21, 2024)
The Direxion Shares Etf Trust ETF price gained 0.415% on the last trading day (Friday, 21st Jun 2024), rising from $22.29 to $22.38. During the last trading day the ETF fluctuated 1.05% from a day low at $22.15 to a day high of $22.38. The price has fallen in 7 of the last 10 days and is down by -10.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 367 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $27.60 thousand.
The ETF lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -12.43% during the next 3 months and, with a 90% probability hold a price between $19.26 and $20.12 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AIBD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.415%. Further rise is indicated until a new top pivot has been found. Direxion Shares Etf Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Shares Etf Trust 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 $22.78 and $23.66. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Direxion Shares Etf Trust ETF
Direxion Shares Etf Trust finds support from accumulated volume at $22.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.232 between high and low, or 1.05%. For the last week the ETF has had daily average volatility of 0.560%.
Our recommended stop-loss: $21.00 (-6.17%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (AIBD) For The Upcoming Trading Day Of Monday 24th
Since the stock is closer to the support from accumulated volume at $22.30 (0.37%) than the resistance at $22.83 (2.00%), 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 Shares Etf Trust ETF A Buy?
Direxion Shares Etf Trust 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Direxion Shares Etf Trust of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $22.30 ( 0.346%) | $22.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIBD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.54 | 0.692% |
| R2 | 22.45 | 0.296% |
| R1 | 22.39 | 0.0505% |
| Price | 22.38 | |
| S1 | 22.22 | -0.743% |
| S2 | 22.16 | -0.99% |
| S3 | 22.07 | -1.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.91 | 11.29% |
| R2 | 23.81 | 6.36% |
| R1 | 22.83 | 2.00% |
| Price | 22.38 | |
| S1 | 22.30 | -0.368% |
| S2 | 22.30 | -0.374% |
| S3 | 22.29 | -0.413% |
FAQ
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