Direxion Daily GOOGL Bear 1X Shares ETF Forecast
Red day on Monday for Direxion Daily GOOGL Bear 1X Shares ETF after losing 0.493%
(Updated on May 06, 2024)
The Direxion Daily GOOGL Bear 1X Shares ETF price fell by -0.493% on the last day (Monday, 6th May 2024) from $14.20 to $14.13. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.96% from a day low at $14.13 to a day high of $14.27. The price has fallen in 7 of the last 10 days and is down by -8.01% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -6 thousand shares and in total, 10 thousand shares were bought and sold for approximately $144.25 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 -15.61% during the next 3 months and, with a 90% probability hold a price between $11.41 and $13.69 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GGLS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.32%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily GOOGL Bear 1X Shares ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.25 and $15.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Direxion Daily GOOGL Bear 1X Shares ETF
Direxion Daily GOOGL Bear 1X Shares finds support from accumulated volume at $13.81 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.136 between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 2.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GGLS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Direxion Daily GOOGL Bear 1X Shares to open at $14.18, and during the day (based on 14 day Average True Range), to move between $13.74 and $14.52, which gives a possible trading interval of +/-$0.390 (+/-2.76%) up or down from last closing price. If Direxion Daily GOOGL Bear 1X Shares takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.81 (2.26%) than the resistance at $15.38 (8.85%), 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 GOOGL Bear 1X Shares ETF A Buy?
Direxion Daily GOOGL Bear 1X Shares 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: -1.329 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily GOOGL Bear 1X Shares of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $14.18 ( 0.321%) | $14.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGLS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.31 | 1.28 % | |
| R2 | 14.26 | 0.91 % | ||
| R1 | 14.23 | 0.688 % | ||
| Current price: | 14.13 | |||
| Support | S1 | 14.12 | -0.0468 % | |
| S2 | 14.09 | -0.274 % | ||
| S3 | 14.04 | -0.641 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.53 | 24.06 % | |
| R2 | 16.25 | 15.00 % | ||
| R1 | 15.38 | 8.85 % | ||
| Current price | 14.13 | |||
| Support | S1 | 13.81 | -2.26% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GGLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0790 | 0.498% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.191 | 1.11% |
| 3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.306 | 1.62% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.277 | 1.35% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.225 | 0.91% |
FAQ
Click here for our free guide on how to buy Direxion Daily GOOGL Bear 1X Shares ETF.
