Direxion Daily MSCI Emerging Markets ETF Forecast

$10.52
-0.0300 (-0.284%)
At Close: Mar 27, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Red day on Wednesday for Direxion Daily MSCI Emerging Markets
(Updated on Mar 27, 2024)

Sell candidate since Mar 20, 2024 Gain 1.64% PDF

The Direxion Daily MSCI Emerging Markets ETF price fell by -0.284% on the last day (Wednesday, 27th Mar 2024) from $10.55 to $10.52. During the last trading day the ETF fluctuated 1.24% from a day low at $10.52 to a day high of $10.65. The price has fallen in 6 of the last 10 days but is still up by 1.15% over the past 2 weeks. Volume has increased on the last day by 51 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 116 thousand shares were bought and sold for approximately $1.22 million.

The ETF lies in the middle of a 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 -14.44% during the next 3 months and, with a 90% probability hold a price between $8.50 and $10.11 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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EDZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 2.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily MSCI Emerging Markets 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 $10.96. On a fall, the ETF will find some support from the short-term average at $10.51. 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. Direxion Daily MSCI Emerging Markets gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Direxion Daily MSCI Emerging Markets ETF

Direxion Daily MSCI Emerging Markets finds support from accumulated volume at $10.35 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 $0.130 between high and low, or 1.24%. For the last week, the ETF has had daily average volatility of 1.32%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EDZ) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Direxion Daily MSCI Emerging Markets Bear 3X Shares to open at $10.56, and during the day (based on 14 day Average True Range), to move between $10.26 and $10.78, which gives a possible trading interval of +/-$0.255 (+/-2.43%) up or down from last closing price. If Direxion Daily MSCI Emerging Markets Bear 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 $10.35 (1.62%) than the resistance at $11.37 (8.08%), 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 Bear 3X Shares ETF A Buy?

Direxion Daily MSCI Emerging Markets 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: -2.177 Sell Candidate Unchanged

Predicted Opening Price for Direxion Daily MSCI Emerging Markets Bear 3X Shares of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$10.56 ( 0.412%) $10.52

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for EDZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 10.69 1.65 %
R2 10.64 1.18 %
R1 10.61 0.88 %
Current price: 10.52
Support S1 10.51 -0.0601 %
S2 10.48 -0.352 %
S3 10.43 -0.82 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 12.74 21.10 %
R2 12.39 17.78 %
R1 11.37 8.08 %
Current price 10.52
Support S1 10.35 -1.62%
S2 10.34 -1.71%
S3 10.29 -2.19%

EDZ Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 18, 2024 Mar 19, 2024 Mar 26, 2024 $0.181 1.71%
2 Dec 21, 2023 Dec 21, 2023 Dec 21, 2023 $0.0700 0.609%
3 Feb 10, 2023 Sep 19, 2023 Sep 26, 2023 $0.129 0.93%
4 Feb 10, 2023 Jun 21, 2023 Jun 28, 2023 $0.124 1.02%
5 Feb 10, 2023 Mar 21, 2023 Mar 28, 2023 $0.152 1.18%

FAQ

What is the symbol for Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF and on which exchange is it traded?
The symbol for Direxion Daily MSCI Emerging Markets Bear 3X Shares is EDZ and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF?
Direxion Daily MSCI Emerging Markets 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.

How to buy Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF?
Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF.

What's the current price of Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF?
As of the end of day on the 2024-03-27, the price of an Direxion Daily MSCI Emerging Markets Bear 3X Shares (EDZ) share was $10.52.

What is the 52-week high and low for Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF?
The 52-week high for Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF is $15.64 and the 52-week low is $10.10.

What is the market capitalization of Direxion Daily MSCI Emerging Markets Bear 3X Shares ETF?
As of the 2024-03-27, the market capitalization of Direxion Daily MSCI Emerging Markets Bear 3X Shares is 20.353M.
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About Direxion Daily MSCI Emerging Markets Bear 3X Shares

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse of the daily performance of the MSCI Emerging Markets IndexSM. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index is a ... EDZ Profile

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