DIREXION DAILY MSCI SOUTH KOREA BULL 3X ETF Forecast
DIREXION DAILY MSCI SOUTH KOREA BULL 3X ETF price ended at $6.90 on Wednesday, after losing 2.40%.
(Updated on Apr 17, 2024)
The DIREXION DAILY MSCI SOUTH KOREA BULL 3X ETF price fell by -2.40% on the last day (Wednesday, 17th Apr 2024) from $7.07 to $6.90. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 3.68% from a day low at $6.80 to a day high of $7.05. The price has fallen in 8 of the last 10 days and is down by -24.67% 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 -156 thousand shares and in total, 705 thousand shares were bought and sold for approximately $4.86 million.
Given the current short-term trend, the ETF is expected to rise 21.37% during the next 3 months and, with a 90% probability hold a price between $8.37 and $12.37 at the end of this 3-month period.
KORU Signals & Forecast
There are few to no technical positive signals at the moment. The DIREXION DAILY MSCI SOUTH KOREA BULL 3X 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 $7.73 and $8.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -28.65%. 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 MSCI SOUTH KOREA BULL 3X ETF
DIREXION DAILY MSCI SOUTH KOREA BULL 3X finds support from accumulated volume at $6.80 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 $0.250 between high and low, or 3.68%. For the last week, the ETF has had daily average volatility of 3.93%.
DIREXION DAILY MSCI SOUTH KOREA BULL 3X is oversold on RSI14 (16). 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 (KORU) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect DIREXION DAILY MSCI SOUTH KOREA BULL 3X SHARES to open at $6.92, and during the day (based on 14 day Average True Range), to move between $6.46 and $7.34, which gives a possible trading interval of +/-$0.443 (+/-6.42%) up or down from last closing price. If DIREXION DAILY MSCI SOUTH KOREA BULL 3X SHARES takes out the full calculated possible swing range there will be an estimated 12.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.80 (1.45%) than the resistance at $7.54 (9.28%), 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 MSCI SOUTH KOREA BULL 3X SHARES ETF A Buy?
The DIREXION DAILY MSCI SOUTH KOREA BULL 3X ETF holds several negative signals and despite the positive trend, we believe DIREXION DAILY MSCI SOUTH KOREA BULL 3X will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.069 Sell Candidate Unchanged
Predicted Opening Price for DIREXION DAILY MSCI SOUTH KOREA BULL 3X SHARES of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$6.92 ( 0.242%) | $6.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KORU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.17 | 3.86 % | |
R2 | 7.07 | 2.48 % | ||
R1 | 7.01 | 1.63 % | ||
Current price: | 6.90 | |||
Support | S1 | 6.82 | -1.14 % | |
S2 | 6.76 | -2.00 % | ||
S3 | 6.67 | -3.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.44 | 22.32 % | |
R2 | 7.87 | 14.06 % | ||
R1 | 7.54 | 9.28 % | ||
Current price | 6.90 | |||
Support | S1 | 6.80 | -1.45% | |
S2 | 6.58 | -4.64% | ||
S3 | 6.56 | -4.93% |
KORU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0264 | 0.276% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.151 | 1.71% |
3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0150 | 0.220% |
4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0310 | 0.338% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0430 | 0.519% |
FAQ
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