Direxion Daily Mid Cap Bull 3X Shares ETF Forecast
Direxion Daily Mid Cap Bull 3X Shares ETF price down 0.604% on Thursday
(Updated on Apr 18, 2024)
The Direxion Daily Mid Cap Bull 3X Shares ETF price fell by -0.604% on the last day (Thursday, 18th Apr 2024) from $44.68 to $44.41. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 4.22% from a day low at $43.95 to a day high of $45.80. The price has fallen in 6 of the last 10 days and is down by -14.07% 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 -13 thousand shares and in total, 31 thousand shares were bought and sold for approximately $1.36 million.
Given the current short-term trend, the ETF is expected to rise 21.97% during the next 3 months and, with a 90% probability hold a price between $54.17 and $71.36 at the end of this 3-month period.
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MIDU Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily Mid Cap Bull 3X Shares 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 $47.22 and $51.16. 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 28, 2024, and so far it has fallen -20.88%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Direxion Daily Mid Cap Bull 3X Shares ETF
Direxion Daily Mid Cap Bull 3X Shares finds support from accumulated volume at $43.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $1.85 between high and low, or 4.22%. For the last week the ETF has had daily average volatility of 4.90%.
Direxion Daily Mid Cap Bull 3X Shares 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 (MIDU) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Direxion Daily Mid Cap Bull 3X Shares to open at $44.72, and during the day (based on 14 day Average True Range), to move between $42.40 and $46.42, which gives a possible trading interval of +/-$2.01 (+/-4.54%) up or down from last closing price. If Direxion Daily Mid Cap Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 9.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43.83 (1.31%) than the resistance at $49.99 (12.56%), 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 Mid Cap Bull 3X Shares ETF A Buy?
The Direxion Daily Mid Cap Bull 3X Shares ETF holds several negative signals and despite the positive trend, we believe Direxion Daily Mid Cap Bull 3X Shares will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.242 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Mid Cap Bull 3X Shares of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $44.72 ( 0.702%) | $44.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.58 | 4.88 % | |
| R2 | 45.87 | 3.28 % | ||
| R1 | 45.43 | 2.30 % | ||
| Current price: | 44.41 | |||
| Support | S1 | 44.01 | -0.89 % | |
| S2 | 43.58 | -1.88 % | ||
| S3 | 42.87 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.52 | 22.77 % | |
| R2 | 50.26 | 13.17 % | ||
| R1 | 49.99 | 12.56 % | ||
| Current price | 44.41 | |||
| Support | S1 | 43.83 | -1.31% | |
| S2 | 43.50 | -2.05% | ||
| S3 | 43.03 | -3.11% |
MIDU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0500 | 0.0942% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.277 | 0.627% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0400 | 0.122% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.211 | 0.549% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.105 | 0.311% |
FAQ
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