Direxion Moonshot Innovators ETF Forecast
Green day on Friday for Direxion Moonshot Innovators
(Updated on May 17, 2024)
The Direxion Moonshot Innovators ETF price gained 1.09% on the last trading day (Friday, 17th May 2024), rising from $10.07 to $10.18. During the last trading day the ETF fluctuated 1.17% from a day low at $10.09 to a day high of $10.21. The price has risen in 7 of the last 10 days and is up by 4.52% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $189.66 thousand.
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $10.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -12.99% during the next 3 months and, with a 90% probability hold a price between $7.31 and $8.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MOON Signals & Forecast
The Direxion Moonshot Innovators ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.01 and $9.72. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Direxion Moonshot Innovators has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.55%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Direxion Moonshot Innovators ETF
Direxion Moonshot Innovators finds support from accumulated volume at $9.86 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.118 between high and low, or 1.17%. For the last week, the ETF has had daily average volatility of 2.27%.
Our recommended stop-loss: $9.74 (-4.30%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MOON) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Direxion Moonshot Innovators ETF to open at $10.16, and during the day (based on 14 day Average True Range), to move between $9.89 and $10.47, which gives a possible trading interval of +/-$0.286 (+/-2.81%) up or down from last closing price. If Direxion Moonshot Innovators ETF takes out the full calculated possible swing range there will be an estimated 5.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.22 (0.39%) than the support at $9.86 (3.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Direxion Moonshot Innovators ETF ETF A Buy?
Direxion Moonshot Innovators holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.752 Hold/Accumulate Unchanged
Predicted Opening Price for Direxion Moonshot Innovators ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $10.16 ( 0.223%) | $10.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.28 | 0.94 % | |
| R2 | 10.23 | 0.494 % | ||
| R1 | 10.20 | 0.220 % | ||
| Current price: | 10.18 | |||
| Support | S1 | 10.11 | -0.666 % | |
| S2 | 10.08 | -0.94 % | ||
| S3 | 10.04 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.00 | 8.06 % | |
| R2 | 10.34 | 1.57 % | ||
| R1 | 10.22 | 0.393 % | ||
| Current price | 10.18 | |||
| Support | S1 | 9.86 | -3.14% | |
| S2 | 9.74 | -4.32% | ||
| S3 | 9.55 | -6.19% |
MOON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0347 | 0.332% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0160 | 0.142% |
| 3 | Feb 10, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.130 | 1.27% |
| 4 | Feb 10, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0150 | 0.120% |
| 5 | Dec 20, 2021 | Dec 21, 2021 | Dec 29, 2021 | $0.298 | 1.12% |
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