Direxion Dly S&P Oil&Gs Ex&Prd Br 3X 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 Dly S&P Oil&Gs Ex&Prd Br 3X ETF downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF price fell by -0.84% on the last day (Tuesday, 2nd Jul 2024) from $9.57 to $9.49. During the last trading day the ETF fluctuated 3.61% from a day low at $9.28 to a day high of $9.61. The price has fallen in 6 of the last 10 days and is down by -7.23% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -237 thousand shares and in total, 1 million shares were bought and sold for approximately $9.73 million.
Given the current short-term trend, the ETF is expected to rise 19.64% during the next 3 months and, with a 90% probability hold a price between $11.35 and $12.57 at the end of this 3-month period.
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DRIP Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $9.55 and $9.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -7.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF
Direxion Dly S&P Oil&Gs Ex&Prd Br 3X finds support from accumulated volume at $9.46 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 $0.335 between high and low, or 3.61%. For the last week, the ETF has had daily average volatility of 3.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRIP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF to open at $9.46, and during the day (based on 14 day Average True Range), to move between $9.15 and $9.83, which gives a possible trading interval of +/-$0.344 (+/-3.63%) up or down from last closing price. If Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF takes out the full calculated possible swing range there will be an estimated 7.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.46 (0.32%) than the resistance at $9.56 (0.74%), 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 Dly S&P Oil&Gs Ex&Prd Br 3X ETF ETF A Buy?
The Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF holds several negative signals and despite the positive trend, we believe Direxion Dly S&P Oil&Gs Ex&Prd Br 3X will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -4.283 Sell Candidate Downgraded
Predicted Opening Price for Direxion Dly S&P Oil&Gs Ex&Prd Br 3X ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $9.46 ( 0.334%) | $9.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRIP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.79 | 3.20% |
| R2 | 9.67 | 1.85% |
| R1 | 9.59 | 1.01% |
| Price | 9.49 | |
| S1 | 9.33 | -1.68% |
| S2 | 9.25 | -2.52% |
| S3 | 9.12 | -3.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.86 | 3.90% |
| R2 | 9.57 | 0.84% |
| R1 | 9.56 | 0.738% |
| Price | 9.49 | |
| S1 | 9.46 | -0.316% |
| S2 | 9.18 | -3.27% |
| S3 | 8.86 | -6.64% |
DRIP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.177 | 1.94% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0890 | 0.81% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0930 | 0.89% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.122 | 0.86% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.270 | 1.77% |
FAQ
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