Direxion Daily Regional Banks Bull 3X ETF Forecast
Direxion Daily Regional Banks Bull 3X ETF price up 3.82% on Friday
(Updated on May 03, 2024)
The Direxion Daily Regional Banks Bull 3X ETF price gained 3.82% on the last trading day (Friday, 3rd May 2024), rising from $71.42 to $74.15. 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 4.36% from a day low at $73.38 to a day high of $76.58. The price has risen in 6 of the last 10 days and is up by 14.27% 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, 476 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $101.72 million.
The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $78.00 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -4.79% during the next 3 months and, with a 90% probability hold a price between $55.36 and $74.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DPST Signals & Forecast
Mostly positive signals in the chart today. The Direxion Daily Regional Banks 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 $68.73 and $69.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 17.21%. 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 Regional Banks Bull 3X ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $66.45 and $65.85. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Direxion Daily Regional Banks Bull 3X finds support just below today's level at $66.45. If this is broken, then the next support from accumulated volume will be at $65.85 and $63.91.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $3.20 between high and low, or 4.36%. For the last week, the ETF has had daily average volatility of 5.98%.
Our recommended stop-loss: $71.45 (-3.64%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (DPST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Direxion Daily Regional Banks Bull 3X Shares to open at $74.70, and during the day (based on 14 day Average True Range), to move between $69.36 and $78.94, which gives a possible trading interval of +/-$4.79 (+/-6.46%) up or down from last closing price. If Direxion Daily Regional Banks Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 12.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.91 (2.37%) than the support at $66.45 (10.38%), 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 Daily Regional Banks 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.
Current score: 4.186 Buy Candidate Unchanged
Predicted Opening Price for Direxion Daily Regional Banks Bull 3X Shares of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $74.70 ( 0.747%) | $74.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DPST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.90 | 5.06 % | |
| R2 | 76.68 | 3.41 % | ||
| R1 | 75.93 | 2.39 % | ||
| Current price: | 74.15 | |||
| Support | S1 | 73.48 | -0.90 % | |
| S2 | 72.73 | -1.92 % | ||
| S3 | 71.51 | -3.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.23 | 2.81 % | |
| R2 | 76.12 | 2.66 % | ||
| R1 | 75.91 | 2.37 % | ||
| Current price | 74.15 | |||
| Support | S1 | 66.45 | -10.38% | |
| S2 | 65.85 | -11.19% | ||
| S3 | 63.91 | -13.81% |
DPST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.556 | 0.787% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.444 | 0.464% |
| 3 | Feb 17, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.462 | 0.89% |
| 4 | Feb 17, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.460 | 0.87% |
| 5 | Feb 17, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0360 | 0.0462% |
FAQ
Click here for our free guide on how to buy Direxion Daily Regional Banks Bull 3X Shares ETF.
