Direxion Daily GOOGL Bear 1X Shares 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
Direxion Daily GOOGL Bear 1X Shares ETF downgraded to Sell Candidate
(Updated on May 24, 2024)
The Direxion Daily GOOGL Bear 1X Shares ETF price fell by -0.728% on the last day (Friday, 24th May 2024) from $13.73 to $13.63. During the last trading day the ETF fluctuated 1.03% from a day low at $13.56 to a day high of $13.70. The price has fallen in 8 of the last 10 days and is down by -3.33% for this period. Volume has increased on the last day by 2 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, 17 thousand shares were bought and sold for approximately $233.43 thousand.
The ETF lies in the middle of a 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 -24.26% during the next 3 months and, with a 90% probability hold a price between $9.98 and $10.78 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 Tuesday, May 21, 2024, and so far it has risen 1.79%. 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). 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 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 $14.49. On a fall, the ETF will find some support from the short-term average at $13.56. 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. Direxion Daily GOOGL Bear 1X Shares 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 GOOGL Bear 1X Shares ETF
Direxion Daily GOOGL Bear 1X Shares finds support from accumulated volume at $13.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.140 (1.03%) between high and low. For the last week, the ETF has had daily average volatility of 1.18%.
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 28th
For the upcoming trading day on Tuesday, 28th we expect Direxion Daily GOOGL Bear 1X Shares to open at $13.63, and during the day (based on 14 day Average True Range), to move between $13.36 and $13.90, which gives a possible trading interval of +/-$0.272 (+/-2.00%) 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 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.52 (0.81%) than the resistance at $13.81 (1.32%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.027 Sell Candidate Downgraded
Predicted Opening Price for Direxion Daily GOOGL Bear 1X Shares of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
$13.63 ( 0.0005%) | $13.63 |
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 | 13.77 | 1.03 % | |
R2 | 13.72 | 0.634 % | ||
R1 | 13.68 | 0.392 % | ||
Current price: | 13.63 | |||
Support | S1 | 13.58 | -0.391 % | |
S2 | 13.54 | -0.633 % | ||
S3 | 13.49 | -1.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.25 | 19.22 % | |
R2 | 15.38 | 12.84 % | ||
R1 | 13.81 | 1.32 % | ||
Current price | 13.63 | |||
Support | S1 | 13.52 | -0.81% | |
S2 | 13.50 | -0.95% | ||
S3 | 13.46 | -1.25% |
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.