Direxion Hydrogen ETF Forecast
Direxion Hydrogen ETF price down 1.40% on Friday
(Updated on Jun 28, 2024)
The Direxion Hydrogen ETF price fell by -1.40% on the last day (Friday, 28th Jun 2024) from $10.72 to $10.57. During the last trading day the ETF fluctuated 2.95% from a day low at $10.51 to a day high of $10.82. The price has fallen in 7 of the last 10 days and is down by -10.73% for this period. Volume has increased on the last day by 14 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, 27 thousand shares were bought and sold for approximately $288.05 thousand.
Given the current short-term trend, the ETF is expected to rise 9.17% during the next 3 months and, with a 90% probability hold a price between $11.54 and $14.52 at the end of this 3-month period.
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HJEN Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Hydrogen ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.89 and $11.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -18.06%. 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). Direxion Hydrogen 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 Hydrogen ETF
Direxion Hydrogen finds support from accumulated volume at $10.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.310 between high and low, or 2.95%. For the last week, the ETF has had daily average volatility of 2.14%.
Direxion Hydrogen is oversold on RSI14 (20). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HJEN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Direxion Hydrogen ETF to open at $10.63, and during the day (based on 14 day Average True Range), to move between $10.27 and $10.87, which gives a possible trading interval of +/-$0.301 (+/-2.84%) up or down from last closing price. If Direxion Hydrogen ETF takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.54 (0.28%) than the resistance at $12.73 (20.44%), 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 Hydrogen ETF ETF A Buy?
The Direxion Hydrogen ETF holds several negative signals and despite the positive trend, we believe Direxion Hydrogen will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.854 Sell Candidate Unchanged
Predicted Opening Price for Direxion Hydrogen ETF of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$10.63 ( 0.599%) | $10.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HJEN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.94 | 3.53% |
R2 | 10.82 | 2.41% |
R1 | 10.75 | 1.72% |
Price | 10.57 | |
S1 | 10.51 | -0.521% |
S2 | 10.44 | -1.21% |
S3 | 10.32 | -2.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 12.90 | 22.04% |
R2 | 12.82 | 21.29% |
R1 | 12.73 | 20.44% |
Price | 10.57 | |
S1 | 10.54 | -0.284% |
S2 | 10.44 | -1.23% |
S3 | 10.28 | -2.74% |
HJEN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0181 | 0.168% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0460 | 0.385% |
3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0410 | 0.345% |
4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0730 | 0.561% |
5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0230 | 0.168% |
FAQ
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