Direxion Daily MSFT Bear 1X Shares ETF Forecast

Direxion Daily MSFT Bear 1X Shares ETF upgraded to Hold/Accumulate.
(Updated on May 06, 2024)

MSFD Signals & Forecast

The Direxion Daily MSFT Bear 1X Shares ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $14.65. On a fall, the ETF will find some support from the long-term average at approximately $14.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, April 30, 2024, and so far it has fallen -5.83%. Further fall is indicated until a new bottom pivot has been found. 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 MSFT Bear 1X Shares ETF

Direxion Daily MSFT Bear 1X Shares finds support from accumulated volume at $14.20 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 $0.253 between high and low, or 1.78%. For the last week the ETF has had daily average volatility of 1.96%.

Our recommended stop-loss: $13.39 (-5.84%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (MSFD) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Direxion Daily MSFT Bear 1X Shares to open at $14.29, and during the day (based on 14 day Average True Range), to move between $13.93 and $14.51, which gives a possible trading interval of +/-$0.291 (+/-2.05%) up or down from last closing price. If Direxion Daily MSFT Bear 1X Shares takes out the full calculated possible swing range there will be an estimated 4.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.20 (0.14%) than the resistance at $14.45 (1.62%), 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 MSFT Bear 1X Shares ETF A Buy?

Direxion Daily MSFT Bear 1X Shares 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.366 Hold/Accumulate Upgraded

Predicted Opening Price for Direxion Daily MSFT Bear 1X Shares of Tuesday, May 7, 2024

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