Direxion Daily S&P 500 High Beta Bull 3x 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 S&P 500 High Beta Bull 3x ETF price up 2.74% on Friday
(Updated on Apr 26, 2024)
The Direxion Daily S&P 500 High Beta Bull 3x ETF price gained 2.74% on the last trading day (Friday, 26th Apr 2024), rising from $39.81 to $40.90. During the last trading day the ETF fluctuated 3.42% from a day low at $40.05 to a day high of $41.42. The price has fallen in 6 of the last 10 days but is still up by 0.02% over the past 2 weeks. Volume fell on the last day by -43 thousand shares and in total, 43 thousand shares were bought and sold for approximately $1.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Direxion Daily S&P 500 High Beta Bull 3x ETF with a 90% probability to be traded between $36.51 and $49.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HIBL Signals & Forecast
There are mixed signals in the ETF today. The Direxion Daily S&P 500 High Beta Bull 3x 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 $43.42. On a fall, the ETF will find some support from the short-term average at $38.79. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.24%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Direxion Daily S&P 500 High Beta Bull 3x ETF
Direxion Daily S&P 500 High Beta Bull 3x finds support from accumulated volume at $40.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.37 between high and low, or 3.42%. For the last week, the ETF has had daily average volatility of 4.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HIBL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Direxion Daily S&P 500 High Beta Bull 3x Shares to open at $40.79, and during the day (based on 14 day Average True Range), to move between $38.78 and $43.02, which gives a possible trading interval of +/-$2.12 (+/-5.18%) 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 10.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.71 (0.46%) than the resistance at $41.22 (0.78%), 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 S&P 500 High Beta Bull 3x Shares ETF A Buy?
Direxion Daily S&P 500 High Beta Bull 3x 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.
Current score: -1.937 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily S&P 500 High Beta Bull 3x Shares of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $40.79 ( 0.269%) | $40.90 |
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 | 42.16 | 3.08 % | |
| R2 | 41.64 | 1.80 % | ||
| R1 | 41.31 | 1.01 % | ||
| Current price: | 40.90 | |||
| Support | S1 | 40.27 | -1.55 % | |
| S2 | 39.94 | -2.34 % | ||
| S3 | 39.42 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.96 | 7.48 % | |
| R2 | 42.72 | 4.45 % | ||
| R1 | 41.22 | 0.782 % | ||
| Current price | 40.90 | |||
| Support | S1 | 40.71 | -0.465% | |
| S2 | 40.13 | -1.88% | ||
| S3 | 39.23 | -4.08% |
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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