DIREXION DAILY FTSE EUROPE BULL 3X ETF Forecast

DIREXION DAILY FTSE EUROPE BULL 3X ETF price ended at $25.85 on Monday, after gaining 3.11%.
(Updated on May 06, 2024)

EURL Signals & Forecast

Mostly positive signals in the chart today. The DIREXION DAILY FTSE EUROPE BULL 3X ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.71 and $24.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 12.93%. 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). 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. 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 $0.420 between high and low, or 1.64%. For the last week, the ETF has had daily average volatility of 3.02%.

Our recommended stop-loss: $24.92 (-3.60%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (EURL) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect DIREXION DAILY FTSE EUROPE BULL 3X SHARES to open at $25.80, and during the day (based on 14 day Average True Range), to move between $25.01 and $26.69, which gives a possible trading interval of +/-$0.84 (+/-3.24%) 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 6.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $25.90 (0.19%) than the support at $24.79 (4.11%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is DIREXION DAILY FTSE EUROPE 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 FTSE EUROPE BULL 3X ETF to perform well in the short-term.

Current score: 2.705 Buy Candidate Unchanged

Predicted Opening Price for DIREXION DAILY FTSE EUROPE BULL 3X SHARES of Tuesday, May 7, 2024

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