Direxion Daily S&P 500 High Beta Bear 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 Bear 3X ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Direxion Daily S&P 500 High Beta Bear 3X ETF price fell by -2.56% on the last day (Friday, 3rd May 2024) from $26.92 to $26.23. During the last trading day the ETF fluctuated 4.45% from a day low at $25.17 to a day high of $26.29. The price has fallen in 7 of the last 10 days and is down by -9.61% 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 -68 thousand shares and in total, 177 thousand shares were bought and sold for approximately $4.64 million.
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 Bear 3X ETF with a 90% probability to be traded between $21.68 and $28.67 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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HIBS Signals & Forecast
The Direxion Daily S&P 500 High Beta Bear 3X 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 $26.48. On a fall, the ETF will find some support from the long-term average at approximately $25.24. 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. 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 19, 2024, and so far it has fallen -9.61%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Direxion Daily S&P 500 High Beta Bear 3X ETF
Direxion Daily S&P 500 High Beta Bear 3X finds support from accumulated volume at $25.55 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 $1.12 between high and low, or 4.45%. For the last week, the ETF has had daily average volatility of 5.61%.
Our recommended stop-loss: $24.66 (-6.00%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (HIBS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Direxion Daily S&P 500 High Beta Bear 3X Shares to open at $25.90, and during the day (based on 14 day Average True Range), to move between $24.81 and $27.65, which gives a possible trading interval of +/-$1.42 (+/-5.43%) up or down from last closing price. If Direxion Daily S&P 500 High Beta Bear 3X Shares takes out the full calculated possible swing range there will be an estimated 10.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.35 (0.46%) than the support at $25.55 (2.59%), 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 Daily S&P 500 High Beta Bear 3X Shares ETF A Buy?
Direxion Daily S&P 500 High Beta Bear 3X holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.083 Hold/Accumulate Upgraded
Predicted Opening Price for Direxion Daily S&P 500 High Beta Bear 3X Shares of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $25.90 ( 1.27%) | $26.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HIBS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.02 | 3.00 % | |
| R2 | 26.59 | 1.37 % | ||
| R1 | 26.32 | 0.360 % | ||
| Current price: | 26.23 | |||
| Support | S1 | 25.47 | -2.90 % | |
| S2 | 25.20 | -3.91 % | ||
| S3 | 24.78 | -5.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.82 | 6.06 % | |
| R2 | 27.36 | 4.31 % | ||
| R1 | 26.35 | 0.457 % | ||
| Current price | 26.23 | |||
| Support | S1 | 25.55 | -2.59% | |
| S2 | 24.46 | -6.75% | ||
| S3 | 24.14 | -7.97% |
HIBS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.302 | 1.27% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.333 | 1.22% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.416 | 0.85% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0370 | 0.0964% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0650 | 0.113% |
FAQ
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