DIREXION DAILY MSCI BRAZIL BULL 3X ETF Forecast
DIREXION DAILY MSCI BRAZIL BULL 3X ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The DIREXION DAILY MSCI BRAZIL BULL 3X ETF price gained 3.20% on the last trading day (Friday, 3rd May 2024), rising from $81.81 to $84.43. 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 2.01% from a day low at $83.75 to a day high of $85.43. The price has risen in 7 of the last 10 days and is up by 9.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $3.49 million.
Given the current short-term trend, the ETF is expected to fall -15.77% during the next 3 months and, with a 90% probability hold a price between $59.73 and $71.12 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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BRZU Signals & Forecast
Mostly positive signals in the chart today. The DIREXION DAILY MSCI BRAZIL BULL 3X ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $80.34 and $82.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.53%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for DIREXION DAILY MSCI BRAZIL BULL 3X ETF
DIREXION DAILY MSCI BRAZIL BULL 3X finds support from accumulated volume at $84.15 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 $1.68 between high and low, or 2.01%. For the last week, the ETF has had daily average volatility of 2.37%.
Our recommended stop-loss: $81.27 (-3.74%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (BRZU) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect DIREXION DAILY MSCI BRAZIL BULL 3X SHARES to open at $84.54, and during the day (based on 14 day Average True Range), to move between $81.40 and $87.46, which gives a possible trading interval of +/-$3.03 (+/-3.59%) up or down from last closing price. If DIREXION DAILY MSCI BRAZIL BULL 3X SHARES takes out the full calculated possible swing range there will be an estimated 7.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $84.15 (0.33%) than the resistance at $86.29 (2.20%), 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 MSCI BRAZIL BULL 3X SHARES ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.009 Buy Candidate Upgraded
Predicted Opening Price for DIREXION DAILY MSCI BRAZIL BULL 3X SHARES of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $84.54 ( 0.126%) | $84.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRZU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.22 | 2.12 % | |
| R2 | 85.58 | 1.36 % | ||
| R1 | 85.18 | 0.89 % | ||
| Current price: | 84.43 | |||
| Support | S1 | 83.89 | -0.634 % | |
| S2 | 83.50 | -1.10 % | ||
| S3 | 82.86 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 90.39 | 7.06 % | |
| R2 | 86.73 | 2.72 % | ||
| R1 | 86.29 | 2.20 % | ||
| Current price | 84.43 | |||
| Support | S1 | 84.15 | -0.332% | |
| S2 | 83.90 | -0.628% | ||
| S3 | 82.87 | -1.85% |
BRZU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.330 | 0.386% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $1.79 | 1.79% |
| 3 | Feb 11, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.310 | 0.407% |
| 4 | Feb 11, 2023 | Jun 21, 2023 | Jun 28, 2023 | $1.11 | 1.29% |
| 5 | Feb 11, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.128 | 0.212% |
FAQ
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