LABU ETF Forecast

LABU ETF downgraded to Strong Sell Candidate
(Updated on Apr 18, 2024)

LABU Signals & Forecast

There are few to no technical positive signals at the moment. The LABU 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 $100.76 and $127.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -49.44%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for LABU ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $5.02 between high and low, or 5.71%. For the last week, the ETF has had daily average volatility of 8.20%.

LABU 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 (LABU) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Direxion Daily S&P Biotech Bull 3X ETF to open at $89.59, and during the day (based on 14 day Average True Range), to move between $78.92 and $97.16, which gives a possible trading interval of +/-$9.12 (+/-10.36%) 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 20.71% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $92.02, some $3.98 (4.52%) from the current price of $88.04, our system finds the risk reward not very attractive.

Is Direxion Daily S&P Biotech Bull 3X ETF ETF A Buy?

LABU holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.125 Strong Sell Candidate Downgraded

Predicted Opening Price for Direxion Daily S&P Biotech Bull 3X ETF of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.