Direxion Daily Gold Miners Bear 3X ETF Forecast
Red day on Thursday for Direxion Daily Gold Miners Bear 3X
(Updated on Apr 18, 2024)
The Direxion Daily Gold Miners Bear 3X ETF price fell by -1.09% on the last day (Thursday, 18th Apr 2024) from $8.27 to $8.18. During the last trading day the ETF fluctuated 3.94% from a day low at $7.99 to a day high of $8.31. The price has been going up and down for this period, and there has been a -5.76% loss for the last 2 weeks. 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 -5 million shares and in total, 10 million shares were bought and sold for approximately $82.09 million.
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 -33.57% during the next 3 months and, with a 90% probability hold a price between $4.90 and $7.47 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DUST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 4.47%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily Gold Miners Bear 3X ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.21 and $9.90. A break-up above any of these levels will issue buy signals. 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 Daily Gold Miners Bear 3X ETF
Direxion Daily Gold Miners Bear 3X finds support from accumulated volume at $8.17 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 $0.315 between high and low, or 3.94%. For the last week, the ETF has had daily average volatility of 7.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DUST) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Direxion Daily Gold Miners Bear 3X ETF to open at $8.16, and during the day (based on 14 day Average True Range), to move between $7.64 and $8.72, which gives a possible trading interval of +/-$0.544 (+/-6.65%) up or down from last closing price. If Direxion Daily Gold Miners Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 13.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.17 (0.12%) than the resistance at $8.27 (1.10%), 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 Gold Miners Bear 3X ETF ETF A Buy?
Direxion Daily Gold Miners Bear 3X holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -2.918 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Gold Miners Bear 3X ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $8.16 ( 0.265%) | $8.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DUST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.47 | 3.59 % | |
| R2 | 8.35 | 2.11 % | ||
| R1 | 8.28 | 1.21 % | ||
| Current price: | 8.18 | |||
| Support | S1 | 8.04 | -1.74 % | |
| S2 | 7.96 | -2.64 % | ||
| S3 | 7.84 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.90 | 8.80 % | |
| R2 | 8.53 | 4.28 % | ||
| R1 | 8.27 | 1.10 % | ||
| Current price | 8.18 | |||
| Support | S1 | 8.17 | -0.122% | |
| S2 | 8.12 | -0.733% | ||
| S3 | 7.94 | -2.93% |
DUST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.152 | 1.44% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0640 | 0.640% |
| 3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.137 | 0.99% |
| 4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0980 | 0.761% |
| 5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.157 | 1.45% |
FAQ
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