Direxion Daily MSCI Emerging Markets ETF Forecast
Green day on Thursday for Direxion Daily MSCI Emerging Markets
(Updated on Mar 28, 2024)
The Direxion Daily MSCI Emerging Markets ETF price gained 0.90% on the last trading day (Thursday, 28th Mar 2024), rising from $30.05 to $30.32. During the last trading day the ETF fluctuated 1.11% from a day low at $30.22 to a day high of $30.55. The price has risen in 6 of the last 10 days but is still down by -1.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 49 thousand shares were bought and sold for approximately $1.48 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 14.16% during the next 3 months and, with a 90% probability hold a price between $31.91 and $37.09 at the end of this 3-month period.
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EDC Signals & Forecast
The Direxion Daily MSCI Emerging Markets ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $30.16 and $29.71. A breakdown below any of these levels will issue sell signals. Direxion Daily MSCI Emerging Markets has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -4.35%. 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).
Support, Risk & Stop-loss for Direxion Daily MSCI Emerging Markets ETF
Direxion Daily MSCI Emerging Markets finds support from accumulated volume at $30.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.335 (1.11%) between high and low. For the last week, the ETF has had daily average volatility of 1.23%.
Our recommended stop-loss: $28.89 (-4.72%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (EDC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Direxion Daily MSCI Emerging Markets Bull 3X Shares to open at $30.36, and during the day (based on 14 day Average True Range), to move between $29.58 and $31.06, which gives a possible trading interval of +/-$0.735 (+/-2.43%) up or down from last closing price. If Direxion Daily MSCI Emerging Markets Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.25 (0.23%) than the resistance at $30.43 (0.36%), 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 MSCI Emerging Markets Bull 3X Shares ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Direxion Daily MSCI Emerging Markets ETF to perform well in the short-term.
Current score: 3.036 Buy Candidate Unchanged
Predicted Opening Price for Direxion Daily MSCI Emerging Markets Bull 3X Shares of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$30.36 ( 0.137%) | $30.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 30.70 | 1.24 % | |
R2 | 30.57 | 0.82 % | ||
R1 | 30.49 | 0.559 % | ||
Current price: | 30.32 | |||
Support | S1 | 30.23 | -0.285 % | |
S2 | 30.15 | -0.545 % | ||
S3 | 30.03 | -0.97 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 30.58 | 0.86 % | |
R2 | 30.44 | 0.396 % | ||
R1 | 30.43 | 0.363 % | ||
Current price | 30.32 | |||
Support | S1 | 30.25 | -0.231% | |
S2 | 28.52 | -5.94% | ||
S3 | 28.25 | -6.83% |
EDC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.468 | 1.57% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.142 | 0.490% |
3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.297 | 1.19% |
4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.298 | 0.98% |
5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.339 | 1.12% |
FAQ
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