Direxion Daily AMZN Bear 1X Shares ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Direxion Daily AMZN Bear 1X Shares
(Updated on May 17, 2024)
The Direxion Daily AMZN Bear 1X Shares ETF price fell by -0.559% on the last day (Friday, 17th May 2024) from $14.32 to $14.24. During the last trading day the ETF fluctuated 0.84% from a day low at $14.20 to a day high of $14.32. The price has been going up and down for this period, and there has been a 1.06% gain for the last 2 weeks. Volume has increased on the last day by 16 thousand 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, 49 thousand shares were bought and sold for approximately $702.00 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 -7.49% during the next 3 months and, with a 90% probability hold a price between $12.39 and $13.72 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
There are mixed signals in the ETF today. The Direxion Daily AMZN Bear 1X Shares ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $14.35. On a fall, the ETF will find some support from the short-term average at $14.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Direxion Daily AMZN Bear 1X Shares 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". A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 2.73%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Direxion Daily AMZN Bear 1X Shares ETF
Direxion Daily AMZN Bear 1X Shares finds support from accumulated volume at $14.18 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 $0.120 between high and low, or 0.84%. For the last week, the ETF has had daily average volatility of 1.56%.
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 20th
For the upcoming trading day on Monday, 20th we expect Direxion Daily AMZN Bear 1X Shares to open at $14.25, and during the day (based on 14 day Average True Range), to move between $13.94 and $14.54, which gives a possible trading interval of +/-$0.295 (+/-2.07%) 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 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.18 (0.42%) than the resistance at $14.51 (1.90%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -3.554 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily AMZN Bear 1X Shares of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$14.25 ( 0.0941%) | $14.24 |
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 | 14.37 | 0.94 % | |
R2 | 14.33 | 0.614 % | ||
R1 | 14.30 | 0.415 % | ||
Current price: | 14.24 | |||
Support | S1 | 14.21 | -0.227 % | |
S2 | 14.18 | -0.426 % | ||
S3 | 14.13 | -0.747 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.94 | 4.92 % | |
R2 | 14.65 | 2.88 % | ||
R1 | 14.51 | 1.90 % | ||
Current price | 14.24 | |||
Support | S1 | 14.18 | -0.421% | |
S2 | 14.09 | -1.05% | ||
S3 | 14.08 | -1.13% |
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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