GUSH ETF Forecast
GUSH ETF price up 1.97% on Friday
(Updated on Apr 19, 2024)
The GUSH ETF price gained 1.97% on the last trading day (Friday, 19th Apr 2024), rising from $39.11 to $39.88. During the last trading day the ETF fluctuated 4.09% from a day low at $38.93 to a day high of $40.52. The price has fallen in 7 of the last 10 days and is down by -9.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 309 thousand more shares were traded than the day before. In total, 723 thousand shares were bought and sold for approximately $28.82 million.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $39.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 48.43% during the next 3 months and, with a 90% probability hold a price between $58.41 and $68.98 at the end of this 3-month period.
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GUSH Signals & Forecast
The GUSH ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $40.92. On a fall, the ETF will find some support from the long-term average at approximately $39.25. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.43%. 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).
Support, Risk & Stop-loss for GUSH ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $34.69 and $32.74. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, GUSH finds support just below today's level at $34.69. If this is broken, then the next support from accumulated volume will be at $32.74 and $30.22.
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 $1.59 between high and low, or 4.09%. For the last week, the ETF has had daily average volatility of 4.43%.
Our recommended stop-loss: $37.45 (-6.09%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (GUSH) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF to open at $39.78, and during the day (based on 14 day Average True Range), to move between $38.37 and $41.39, which gives a possible trading interval of +/-$1.51 (+/-3.80%) up or down from last closing price. If Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.89 (0.03%) than the support at $34.69 (13.01%), 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 Dly S&P Oil&Gs Ex&Prd Bl 3X ETF 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 GUSH ETF to perform well in the short-term.
Current score: 1.982 Buy Candidate Unchanged
Predicted Opening Price for Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$39.78 ( 0.257%) | $39.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GUSH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.37 | 3.74 % | |
R2 | 40.76 | 2.21 % | ||
R1 | 40.39 | 1.27 % | ||
Current price: | 39.88 | |||
Support | S1 | 39.17 | -1.78 % | |
S2 | 38.79 | -2.72 % | ||
S3 | 38.18 | -4.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.55 | 6.70 % | |
R2 | 41.16 | 3.21 % | ||
R1 | 39.89 | 0.0251 % | ||
Current price | 39.88 | |||
Support | S1 | 34.69 | -13.01% | |
S2 | 32.74 | -17.90% | ||
S3 | 30.22 | -24.22% |
GUSH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.223 | 0.577% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.207 | 0.616% |
3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.258 | 0.681% |
4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.93 | 3.22% |
5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $1.13 | 3.83% |
FAQ
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