Direxion Daily Global Clean Energy Bull ETF Forecast
Direxion Daily Global Clean Energy Bull ETF price ended at $6.99 on Tuesday, after gaining 1.08%.
(Updated on Jun 18, 2024)
The Direxion Daily Global Clean Energy Bull ETF price gained 1.08% on the last trading day (Tuesday, 18th Jun 2024), rising from $6.92 to $6.99. During the last trading day the ETF fluctuated 3.56% from a day low at $6.75 to a day high of $6.99. The price has fallen in 6 of the last 10 days and is down by -8.03% for this period. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately $20.66 thousand. 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 lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.88 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -7.24% during the next 3 months and, with a 90% probability hold a price between $6.38 and $7.00 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KLNE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.08%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily Global Clean Energy Bull 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 $7.28 and $7.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Direxion Daily Global Clean Energy Bull ETF
Direxion Daily Global Clean Energy Bull finds support from accumulated volume at $6.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.240 between high and low, or 3.56%. For the last week the ETF has had daily average volatility of 4.38%
Our recommended stop-loss: $6.61 (-5.39%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (KLNE) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Direxion Daily Global Clean Energy Bull 2x Shares to open at $6.91, and during the day (based on 14 day Average True Range), to move between $6.64 and $7.34, which gives a possible trading interval of +/-$0.353 (+/-5.05%) up or down from last closing price. If Direxion Daily Global Clean Energy Bull 2x Shares takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.92 (1.07%) than the resistance at $7.69 (10.01%), 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 Global Clean Energy Bull 2x Shares ETF A Buy?
Direxion Daily Global Clean Energy Bull holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Direxion Daily Global Clean Energy Bull 2x Shares of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $6.91 ( 1.14%) | $6.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KLNE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.15 | 2.29% |
| R2 | 7.06 | 0.98% |
| R1 | 7.00 | 0.167% |
| Price | 6.99 | |
| S1 | 6.82 | -2.46% |
| S2 | 6.76 | -3.27% |
| S3 | 6.67 | -4.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.89 | 12.87% |
| R2 | 7.88 | 12.73% |
| R1 | 7.69 | 10.01% |
| Price | 6.99 | |
| S1 | 6.92 | -1.07% |
| S2 | 0 | - |
| S3 | 0 | - |
KLNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0228 | 0.354% |
| 2 | Mar 23, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.0484 | 0.548% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0110 | 0.136% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0827 | 0.659% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0067 | 0.0479% |
FAQ
Click here for our free guide on how to buy Direxion Daily Global Clean Energy Bull 2x Shares ETF.
