LABU ETF Forecast
Volatile ride for LABU ETF price on Wednesday moving between $91.31 and $106.82
(Updated on May 01, 2024)
The LABU ETF price gained 9.84% on the last trading day (Wednesday, 1st May 2024), rising from $90.87 to $99.81. During the last trading day the ETF fluctuated 16.99% from a day low at $91.31 to a day high of $106.82. The price has been going up and down for this period, and there has been a 8.47% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $279.47 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -25.31% during the next 3 months and, with a 90% probability hold a price between $48.98 and $104.03 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.
LABU Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The LABU 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 $111.56. On a fall, the ETF will find some support from the short-term average at $91.04. 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. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -42.68%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for LABU ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $94.11 and $86.05. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, LABU finds support just below today's level at $94.11. If this is broken, then the next support from accumulated volume will be at $86.05 and $83.72.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $15.51 between high and low, or 16.99%. For the last week, the ETF has had daily average volatility of 8.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LABU) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Direxion Daily S&P Biotech Bull 3X ETF to open at $99.31, and during the day (based on 14 day Average True Range), to move between $90.88 and $108.74, which gives a possible trading interval of +/-$8.93 (+/-8.95%) up or down from last closing price. If Direxion Daily S&P Biotech Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 17.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $94.11 (5.71%) than the resistance at $112.79 (13.00%), 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 Biotech Bull 3X ETF ETF A Buy?
LABU 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: -2.556 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily S&P Biotech Bull 3X ETF of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$99.31 ( 0.498%) | $99.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LABU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 114.82 | 15.04 % | |
R2 | 108.90 | 9.11 % | ||
R1 | 105.24 | 5.44 % | ||
Current price: | 99.81 | |||
Support | S1 | 93.39 | -6.43 % | |
S2 | 89.73 | -10.10 % | ||
S3 | 83.80 | -16.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 114.16 | 14.38 % | |
R2 | 113.77 | 13.99 % | ||
R1 | 112.79 | 13.00 % | ||
Current price | 99.81 | |||
Support | S1 | 94.11 | -5.71% | |
S2 | 86.05 | -13.79% | ||
S3 | 83.72 | -16.12% |
LABU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.161 | 0.130% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.210 | 0.200% |
3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0020 | 0.0026% |
4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0090 | 0.0074% |
5 | Mar 13, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.0050 | 0.0004% |
FAQ
Click here for our free guide on how to buy LABU ETF.