Direxion Shares Etf Trust ETF Forecast
Green day on Thursday for Direxion Shares Etf Trust
(Updated on Jun 27, 2024)
The Direxion Shares Etf Trust ETF price gained 1.40% on the last trading day (Thursday, 27th Jun 2024), rising from $28.27 to $28.67. It 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 last trading day the ETF fluctuated 1.30% from a day low at $28.48 to a day high of $28.85. The price has risen in 6 of the last 10 days and is up by 3.71% over the past 2 weeks. Volume fell on the last day by -114 shares and in total, 6 thousand shares were bought and sold for approximately $172.71 thousand. 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 12.74% during the next 3 months and, with a 90% probability hold a price between $30.74 and $33.33 at the end of this 3-month period.
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AIBU Signals & Forecast
The Direxion Shares Etf Trust 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 $28.09 and $26.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 4.24%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Direxion Shares Etf Trust ETF
Direxion Shares Etf Trust finds support from accumulated volume at $28.22 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.370 between high and low, or 1.30%. For the last week the ETF has had daily average volatility of 1.73%.
Our recommended stop-loss: $27.58 (-3.79%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AIBU) 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 $28.66, and during the day (based on 14 day Average True Range), to move between $28.08 and $29.25, which gives a possible trading interval of +/-$0.585 (+/-2.04%) 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 4.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $28.22, some $0.446 (1.56%) from the current price of $28.67, our system finds the risk reward attractive.
Is Direxion Shares Etf Trust ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Direxion Shares Etf Trust ETF to perform well in the short-term.
Current score: 1.930 Buy Candidate Unchanged
Predicted Opening Price for Direxion Shares Etf Trust of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $28.66 ( 0.0001%) | $28.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIBU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.03 | 1.29% |
| R2 | 28.89 | 0.797% |
| R1 | 28.81 | 0.493% |
| Price | 28.67 | |
| S1 | 28.52 | -0.493% |
| S2 | 28.44 | -0.798% |
| S3 | 28.30 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 28.67 | |
| S1 | 28.22 | -1.56% |
| S2 | 25.61 | -10.64% |
| S3 | 24.93 | -13.03% |
FAQ
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