Direxion Daily Industrials Bull 3x ETF Forecast
Direxion Daily Industrials Bull 3x ETF price ended at $52.05 on Tuesday, after gaining 4.20%.
(Updated on Apr 23, 2024)
The Direxion Daily Industrials Bull 3x ETF price gained 4.20% on the last trading day (Tuesday, 23rd Apr 2024), rising from $49.95 to $52.05. During the last trading day the ETF fluctuated 2.47% from a day low at $50.98 to a day high of $52.24. The price has fallen in 6 of the last 10 days and is down by -5.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately $1.99 million.
The ETF lies in the middle of a wide and strong 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 24.34% during the next 3 months and, with a 90% probability hold a price between $61.08 and $74.30 at the end of this 3-month period.
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DUSL Signals & Forecast
There are mixed signals in the ETF today. The Direxion Daily Industrials 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 $52.83. On a fall, the ETF will find some support from the short-term average at $50.17. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -7.96%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Direxion Daily Industrials Bull 3x ETF
Direxion Daily Industrials Bull 3x finds support from accumulated volume at $50.90 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 $1.26 between high and low, or 2.47%. For the last week, the ETF has had daily average volatility of 3.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DUSL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Direxion Daily Industrials Bull 3x Shares to open at $51.76, and during the day (based on 14 day Average True Range), to move between $50.17 and $53.93, which gives a possible trading interval of +/-$1.88 (+/-3.61%) up or down from last closing price. If Direxion Daily Industrials Bull 3x Shares takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.90 (2.21%) than the resistance at $53.62 (3.02%), 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 Industrials Bull 3x Shares ETF A Buy?
Direxion Daily Industrials 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: -1.890 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Industrials Bull 3x Shares of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $51.76 ( 0.564%) | $52.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DUSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.02 | 1.86 % | |
| R2 | 52.54 | 0.93 % | ||
| R1 | 52.24 | 0.361 % | ||
| Current price: | 52.05 | |||
| Support | S1 | 51.28 | -1.49 % | |
| S2 | 50.98 | -2.06 % | ||
| S3 | 50.50 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.15 | 7.88 % | |
| R2 | 55.82 | 7.24 % | ||
| R1 | 53.62 | 3.02 % | ||
| Current price | 52.05 | |||
| Support | S1 | 50.90 | -2.21% | |
| S2 | 50.84 | -2.33% | ||
| S3 | 45.61 | -12.37% |
DUSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.139 | 0.258% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.159 | 0.381% |
| 3 | Feb 17, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.141 | 0.457% |
| 4 | Feb 17, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.151 | 0.413% |
| 5 | Feb 17, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.102 | 0.331% |
FAQ
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