Direxion Daily MSCI Mexico Bull 3X ETF Forecast
Red day on Thursday for Direxion Daily MSCI Mexico Bull 3X
(Updated on Apr 18, 2024)
The Direxion Daily MSCI Mexico Bull 3X ETF price fell by -2.27% on the last day (Thursday, 18th Apr 2024) from $29.08 to $28.42. During the last trading day the ETF fluctuated 3.62% from a day low at $28.15 to a day high of $29.17. The price has fallen in 6 of the last 10 days and is down by -18.86% for this period. Volume has increased on the last day by 5 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, 9 thousand shares were bought and sold for approximately $263.62 thousand.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $30.09. A reaction back to this level may hold a second chance to get out before further falls.
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MEXX Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily MSCI Mexico 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 $30.96 and $32.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -23.26%. 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 Daily MSCI Mexico Bull 3X 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 Daily MSCI Mexico Bull 3X 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 $1.02 between high and low, or 3.62%. For the last week, the ETF has had daily average volatility of 4.54%.
Direxion Daily MSCI Mexico Bull 3X is oversold on RSI14 (24). 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 (MEXX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Direxion Daily MSCI Mexico Bull 3X Shares to open at $28.58, and during the day (based on 14 day Average True Range), to move between $27.00 and $29.84, which gives a possible trading interval of +/-$1.42 (+/-5.01%) up or down from last closing price. If Direxion Daily MSCI Mexico Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $31.96, some $3.54 (12.45%) from the current price of $28.42, our system finds the risk reward not very attractive.
Is Direxion Daily MSCI Mexico Bull 3X Shares ETF A Buy?
The Direxion Daily MSCI Mexico Bull 3X ETF holds several negative signals and despite the positive trend, we believe Direxion Daily MSCI Mexico Bull 3X will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.258 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily MSCI Mexico Bull 3X Shares of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $28.58 ( 0.563%) | $28.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEXX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.60 | 4.15 % | |
| R2 | 29.21 | 2.78 % | ||
| R1 | 28.97 | 1.93 % | ||
| Current price: | 28.42 | |||
| Support | S1 | 28.19 | -0.81 % | |
| S2 | 27.95 | -1.66 % | ||
| S3 | 27.56 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.71 | 15.10 % | |
| R2 | 32.43 | 14.11 % | ||
| R1 | 31.96 | 12.45 % | ||
| Current price | 28.42 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MEXX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.105 | 0.310% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.298 | 0.85% |
| 3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0330 | 0.142% |
| 4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.780 | 2.59% |
| 5 | Feb 10, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.476 | 1.87% |
FAQ
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