Direxion Daily CSI 300 China A Share 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
Direxion Daily CSI 300 China A Share ETF price up more than 5.21% on Thursday
(Updated on May 02, 2024)
The Direxion Daily CSI 300 China A Share ETF price gained 5.21% on the last trading day (Thursday, 2nd May 2024), rising from $14.40 to $15.15. During the last trading day the ETF fluctuated 3.05% from a day low at $14.76 to a day high of $15.21. The price has risen in 6 of the last 10 days and is up by 7.22% 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, 158 thousand more shares were traded than the day before. In total, 228 thousand shares were bought and sold for approximately $3.45 million.
The ETF lies in the middle of a wide and weak 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 8.18% during the next 3 months and, with a 90% probability hold a price between $14.62 and $16.90 at the end of this 3-month period.
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CHAU Signals & Forecast
Mostly positive signals in the chart today. The Direxion Daily CSI 300 China A Share 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 $14.34 and $14.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 14.43%. 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 CSI 300 China A Share ETF
Direxion Daily CSI 300 China A Share finds support from accumulated volume at $14.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.450 (3.05%) between high and low. For the last week, the ETF has had daily average volatility of 1.30%.
Our recommended stop-loss: $14.57 (-3.81%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (CHAU) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Direxion Daily CSI 300 China A Share Bull 2X Shares to open at $15.04, and during the day (based on 14 day Average True Range), to move between $14.82 and $15.48, which gives a possible trading interval of +/-$0.333 (+/-2.20%) up or down from last closing price. If Direxion Daily CSI 300 China A Share Bull 2X Shares takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $14.58, some $0.570 (3.76%) from the current price of $15.15, our system finds the risk reward attractive.
Is Direxion Daily CSI 300 China A Share Bull 2X Shares ETF A Buy?
Direxion Daily CSI 300 China A Share holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.787 Strong Buy Candidate Upgraded
Predicted Opening Price for Direxion Daily CSI 300 China A Share Bull 2X Shares of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $15.04 ( 0.726%) | $15.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHAU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.49 | 2.24 % | |
| R2 | 15.32 | 1.11 % | ||
| R1 | 15.21 | 0.409 % | ||
| Current price: | 15.15 | |||
| Support | S1 | 14.87 | -1.86 % | |
| S2 | 14.76 | -2.56 % | ||
| S3 | 14.59 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 15.15 | |||
| Support | S1 | 14.58 | -3.76% | |
| S2 | 14.32 | -5.48% | ||
| S3 | 13.34 | -11.95% |
CHAU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0704 | 0.503% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.232 | 1.76% |
| 3 | Feb 11, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0780 | 0.485% |
| 4 | Feb 11, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.121 | 0.689% |
| 5 | Feb 11, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.124 | 0.575% |
FAQ
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