Direxion Shares Etf Trust ETF Forecast
Direxion Shares Etf Trust ETF price down 1.91% on Thursday
(Updated on Jun 27, 2024)
The Direxion Shares Etf Trust ETF price fell by -1.91% on the last day (Thursday, 27th Jun 2024) from $22.04 to $21.62. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.226% from a day low at $21.62 to a day high of $21.67. The price has fallen in 7 of the last 10 days and is down by -9.87% for this period. Volume has increased on the last day by 519 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 825 shares were bought and sold for approximately $17.84 thousand.
The ETF lies in the middle of a wide 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 -13.84% during the next 3 months and, with a 90% probability hold a price between $17.39 and $19.39 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
There are few to no technical positive signals at the moment. 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 $22.17 and $23.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -15.67%. 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). Direxion Shares Etf Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Direxion Shares Etf Trust ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.0489 between high and low, or 0.226%. For the last week the ETF has had daily average volatility of 0.425%.
Direxion Shares Etf Trust is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $20.54 (-4.99%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 13 which reduces the risk some. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (AIBD) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Direxion Shares Etf Trust to open at $21.64, and during the day (based on 14 day Average True Range), to move between $21.15 and $22.09, which gives a possible trading interval of +/-$0.474 (+/-2.19%) up or down from last closing price. If Direxion Shares Etf Trust takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $22.30, some $0.678 (3.13%) from the current price of $21.62, our system finds the risk reward not very attractive.
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 Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $21.64 ( 0.0754%) | $21.62 |
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 | 21.69 | 0.302% |
| R2 | 21.67 | 0.215% |
| R1 | 21.66 | 0.162% |
| Price | 21.62 | |
| S1 | 21.62 | -0.0110% |
| S2 | 21.61 | -0.0644% |
| S3 | 21.59 | -0.151% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.81 | 10.10% |
| R2 | 22.38 | 3.52% |
| R1 | 22.30 | 3.13% |
| Price | 21.62 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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