Direxion Daily Real Estate Bull 3X ETF Forecast
Direxion Daily Real Estate Bull 3X ETF price ended at $7.60 on Friday, after gaining 0.132%.
(Updated on Apr 26, 2024)
The Direxion Daily Real Estate Bull 3X ETF price gained 0.132% on the last trading day (Friday, 26th Apr 2024), rising from $7.59 to $7.60. During the last trading day the ETF fluctuated 3.30% from a day low at $7.57 to a day high of $7.82. The price has been going up and down for this period, and there has been a -6.63% loss for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 850 thousand shares were bought and sold for approximately $6.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -13.04% during the next 3 months and, with a 90% probability hold a price between $6.12 and $8.28 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.
DRN Signals & Forecast
There are mixed signals in the ETF today. The Direxion Daily Real Estate Bull 3X ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $8.80. On a fall, the ETF will find some support from the short-term average at $7.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.00%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Direxion Daily Real Estate Bull 3X ETF
Direxion Daily Real Estate Bull 3X finds support from accumulated volume at $7.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.250 between high and low, or 3.30%. For the last week, the ETF has had daily average volatility of 3.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Direxion Daily Real Estate Bull 3X ETF to open at $7.66, and during the day (based on 14 day Average True Range), to move between $7.21 and $7.99, which gives a possible trading interval of +/-$0.391 (+/-5.15%) up or down from last closing price. If Direxion Daily Real Estate Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 10.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.42 (2.37%) than the resistance at $8.41 (10.66%), 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 Real Estate Bull 3X ETF ETF A Buy?
Direxion Daily Real Estate Bull 3X 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: -4.128 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Real Estate Bull 3X ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.66 ( 0.83%) | $7.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.91 | 4.12 % | |
| R2 | 7.82 | 2.87 % | ||
| R1 | 7.76 | 2.09 % | ||
| Current price: | 7.60 | |||
| Support | S1 | 7.57 | -0.423 % | |
| S2 | 7.51 | -1.20 % | ||
| S3 | 7.41 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.12 | 20.00 % | |
| R2 | 9.01 | 18.55 % | ||
| R1 | 8.41 | 10.66 % | ||
| Current price | 7.60 | |||
| Support | S1 | 7.42 | -2.37% | |
| S2 | 7.37 | -3.03% | ||
| S3 | 7.20 | -5.26% |
DRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0412 | 0.457% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0700 | 0.682% |
| 3 | Feb 17, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0650 | 0.96% |
| 4 | Feb 17, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0730 | 0.797% |
| 5 | Feb 17, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0940 | 1.16% |
FAQ
Click here for our free guide on how to buy Direxion Daily Real Estate Bull 3X ETF ETF.
