Direxion Auspice Broad Commodity ETF Forecast

Direxion Auspice Broad Commodity ETF price down 0.0682% on Thursday
(Updated on Apr 18, 2024)

COM Signals & Forecast

The Direxion Auspice Broad Commodity ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $29.42. On a fall, the ETF will find some support from the long-term average at approximately $28.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for Direxion Auspice Broad Commodity ETF

Direxion Auspice Broad Commodity finds support from accumulated volume at $27.92 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 $0.119 (0.406%) between high and low. For the last week, the ETF has had daily average volatility of 1.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (COM) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Direxion Auspice Broad Commodity Strategy ETF to open at $29.35, and during the day (based on 14 day Average True Range), to move between $29.06 and $29.56, which gives a possible trading interval of +/-$0.250 (+/-0.85%) up or down from last closing price. If Direxion Auspice Broad Commodity Strategy ETF takes out the full calculated possible swing range there will be an estimated 1.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $29.33 (0.07%) than the support at $27.92 (4.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Direxion Auspice Broad Commodity Strategy ETF ETF A Buy?

Direxion Auspice Broad Commodity 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: -1.184 Sell Candidate Unchanged

Predicted Opening Price for Direxion Auspice Broad Commodity Strategy ETF of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.