Direxion Daily AMZN Bear 1X Shares ETF Forecast
Red day on Friday for Direxion Daily AMZN Bear 1X Shares
(Updated on May 03, 2024)
The Direxion Daily AMZN Bear 1X Shares ETF price fell by -0.635% on the last day (Friday, 3rd May 2024) from $14.18 to $14.09. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.96% from a day low at $13.99 to a day high of $14.12. The price has fallen in 7 of the last 10 days and is down by -6.38% 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 -44 thousand shares and in total, 58 thousand shares were bought and sold for approximately $816.91 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 -7.45% during the next 3 months and, with a 90% probability hold a price between $12.58 and $13.90 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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AMZD Signals & Forecast
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. The Direxion Daily AMZN Bear 1X Shares ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $14.59 and $14.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -6.94%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Direxion Daily AMZN Bear 1X Shares ETF
Direxion Daily AMZN Bear 1X Shares finds support from accumulated volume at $13.90 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.135 between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 2.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMZD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Direxion Daily AMZN Bear 1X Shares to open at $14.07, and during the day (based on 14 day Average True Range), to move between $13.72 and $14.46, which gives a possible trading interval of +/-$0.373 (+/-2.64%) up or down from last closing price. If Direxion Daily AMZN Bear 1X Shares takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.90 (1.35%) than the resistance at $14.51 (2.98%), 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 AMZN Bear 1X Shares ETF A Buy?
Direxion Daily AMZN Bear 1X Shares holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.454 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily AMZN Bear 1X Shares of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $14.07 ( 0.177%) | $14.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMZD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 0.779 % | |
| R2 | 14.15 | 0.414 % | ||
| R1 | 14.12 | 0.188 % | ||
| Current price: | 14.09 | |||
| Support | S1 | 14.01 | -0.542 % | |
| S2 | 13.98 | -0.768 % | ||
| S3 | 13.93 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.94 | 6.03 % | |
| R2 | 14.65 | 3.97 % | ||
| R1 | 14.51 | 2.98 % | ||
| Current price | 14.09 | |||
| Support | S1 | 13.90 | -1.35% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
AMZD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.167 | 1.14% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.208 | 1.20% |
| 3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.447 | 2.10% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.294 | 1.38% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.240 | 0.83% |
FAQ
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