Direxion Daily MSCI Emerging Markets ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Direxion Daily MSCI Emerging Markets ETF after losing 3.47%
(Updated on Apr 26, 2024)
The Direxion Daily MSCI Emerging Markets ETF price fell by -3.47% on the last day (Friday, 26th Apr 2024) from $10.80 to $10.42. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 1.24% from a day low at $10.42 to a day high of $10.55. The price has fallen in 6 of the last 10 days and is down by -4.05% for this period. Volume has increased on the last day by 7 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, 43 thousand shares were bought and sold for approximately $445.02 thousand.
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 -11.10% during the next 3 months and, with a 90% probability hold a price between $8.55 and $10.21 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
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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $11.03 and $10.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -10.17%. Further fall is indicated until a new bottom pivot has been found. 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 $10.37 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 $0.129 between high and low, or 1.24%. For the last week, the ETF has had daily average volatility of 2.75%.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect Direxion Daily MSCI Emerging Markets Bear 3X Shares to open at $10.46, and during the day (based on 14 day Average True Range), to move between $10.08 and $10.76, which gives a possible trading interval of +/-$0.338 (+/-3.25%) 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 6.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.37 (0.48%) than the resistance at $11.37 (9.12%), 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 is within a 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: -3.359 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily MSCI Emerging Markets Bear 3X Shares of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $10.46 ( 0.412%) | $10.42 |
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 | 10.59 | 1.65 % | |
| R2 | 10.54 | 1.18 % | ||
| R1 | 10.51 | 0.88 % | ||
| Current price: | 10.42 | |||
| Support | S1 | 10.41 | -0.0601 % | |
| S2 | 10.38 | -0.352 % | ||
| S3 | 10.33 | -0.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.74 | 22.26 % | |
| R2 | 12.39 | 18.91 % | ||
| R1 | 11.37 | 9.12 % | ||
| Current price | 10.42 | |||
| Support | S1 | 10.37 | -0.480% | |
| S2 | 10.35 | -0.672% | ||
| S3 | 10.34 | -0.768% |
EDZ Dividend Payout History
| # | 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
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