DIREXION DAILY FTSE EUROPE BULL 3X ETF Forecast

Green day on Friday for DIREXION DAILY FTSE EUROPE BULL 3X ETF after gaining 2.83%
(Updated on Apr 26, 2024)

EURL Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.49%. Further rise is indicated until a new top pivot has been found. DIREXION DAILY FTSE EUROPE BULL 3X 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. The DIREXION DAILY FTSE EUROPE 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 $25.11. On a fall, the ETF will find some support from the short-term average at $23.95. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for DIREXION DAILY FTSE EUROPE BULL 3X ETF

DIREXION DAILY FTSE EUROPE BULL 3X finds support from accumulated volume at $24.79 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 $0.431 between high and low, or 1.76%. For the last week, the ETF has had daily average volatility of 2.80%.

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

Trading Expectations (EURL) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect DIREXION DAILY FTSE EUROPE BULL 3X SHARES to open at $24.75, and during the day (based on 14 day Average True Range), to move between $24.07 and $25.60, which gives a possible trading interval of +/-$0.764 (+/-3.08%) up or down from last closing price. If DIREXION DAILY FTSE EUROPE BULL 3X SHARES takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $24.79 (0.18%) than the resistance at $25.34 (2.02%), 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 FTSE EUROPE BULL 3X SHARES ETF A Buy?

DIREXION DAILY FTSE EUROPE 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: -1.405 Sell Candidate Unchanged

Predicted Opening Price for DIREXION DAILY FTSE EUROPE BULL 3X SHARES of Monday, April 29, 2024

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