Direxion Daily GOOGL Bear 1X Shares ETF Forecast
Direxion Daily GOOGL Bear 1X Shares ETF price ended at $13.52 on Friday, after losing 1.02%.
(Updated on May 17, 2024)
The Direxion Daily GOOGL Bear 1X Shares ETF price fell by -1.02% on the last day (Friday, 17th May 2024) from $13.66 to $13.52. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 1.11% from a day low at $13.51 to a day high of $13.66. The price has fallen in 8 of the last 10 days and is down by -4.79% 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 -466 shares and in total, 10 thousand shares were bought and sold for approximately $139.84 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 -21.99% during the next 3 months and, with a 90% probability hold a price between $9.98 and $11.58 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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GGLS Signals & Forecast
There are few to no technical positive signals at the moment. 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 $13.87 and $14.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -7.27%. Further fall is indicated until a new bottom pivot has been found. 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
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.150 between high and low, or 1.11%. For the last week the ETF has had daily average volatility of 1.44%.
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 Monday 20th
For the upcoming trading day on Monday, 20th we expect Direxion Daily GOOGL Bear 1X Shares to open at $13.56, and during the day (based on 14 day Average True Range), to move between $13.22 and $13.82, which gives a possible trading interval of +/-$0.305 (+/-2.25%) 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 4.51% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $13.81, some $0.290 (2.14%) from the current price of $13.52, our system finds the risk reward not very attractive.
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: -3.193 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily GOOGL Bear 1X Shares of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $13.56 ( 0.321%) | $13.52 |
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 | 13.71 | 1.43 % | |
| R2 | 13.66 | 1.01 % | ||
| R1 | 13.62 | 0.744 % | ||
| Current price: | 13.52 | |||
| Support | S1 | 13.51 | -0.103 % | |
| S2 | 13.47 | -0.365 % | ||
| S3 | 13.41 | -0.789 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.25 | 20.19 % | |
| R2 | 15.38 | 13.76 % | ||
| R1 | 13.81 | 2.14 % | ||
| Current price | 13.52 | |||
| Support | S1 | 0 | . | |
| 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
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