Direxion Daily S&P 500 High Beta Bull 3x ETF Forecast
Direxion Daily S&P 500 High Beta Bull 3x ETF price up more than 6.14% on Wednesday
(Updated on Mar 27, 2024)
The Direxion Daily S&P 500 High Beta Bull 3x ETF price gained 6.14% on the last trading day (Wednesday, 27th Mar 2024), rising from $45.47 to $48.26. During the last trading day the ETF fluctuated 4.90% from a day low at $46.09 to a day high of $48.35. The price has been going up and down for this period, and there has been a 5.53% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 74 thousand shares were bought and sold for approximately $3.58 million.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 18.23% during the next 3 months and, with a 90% probability hold a price between $50.09 and $61.29 at the end of this 3-month period.
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HIBL Signals & Forecast
The Direxion Daily S&P 500 High Beta Bull 3x ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $46.12 and $43.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 34.24%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Direxion Daily S&P 500 High Beta Bull 3x ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $43.96 and $39.01. 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, Direxion Daily S&P 500 High Beta Bull 3x finds support just below today's level at $43.96. If this is broken, then the next support from accumulated volume will be at $39.01 and $37.48.
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 $2.26 between high and low, or 4.90%. For the last week, the ETF has had daily average volatility of 3.11%.
Our recommended stop-loss: $46.39 (-3.88%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (HIBL) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Direxion Daily S&P 500 High Beta Bull 3x Shares to open at $47.57, and during the day (based on 14 day Average True Range), to move between $46.44 and $50.08, which gives a possible trading interval of +/-$1.82 (+/-3.77%) up or down from last closing price. If Direxion Daily S&P 500 High Beta Bull 3x Shares takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $43.96, some $4.30 (8.91%) from the current price of $48.26, our system finds the risk reward attractive.
Is Direxion Daily S&P 500 High Beta Bull 3x Shares ETF A Buy?
Direxion Daily S&P 500 High Beta Bull 3x holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.936 Strong Buy Candidate Upgraded
Predicted Opening Price for Direxion Daily S&P 500 High Beta Bull 3x Shares of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$47.57 ( 1.44%) | $48.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HIBL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 49.83 | 3.25 % | |
R2 | 48.96 | 1.46 % | ||
R1 | 48.43 | 0.352 % | ||
Current price: | 48.26 | |||
Support | S1 | 46.70 | -3.23 % | |
S2 | 46.17 | -4.33 % | ||
S3 | 45.31 | -6.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 48.26 | |||
Support | S1 | 43.96 | -8.91% | |
S2 | 39.01 | -19.17% | ||
S3 | 37.48 | -22.34% |
HIBL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.154 | 0.339% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.114 | 0.269% |
3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0730 | 0.275% |
4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0650 | 0.179% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0410 | 0.154% |
FAQ
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