Direxion Daily MSFT Bull 1.5X Shares ETF Forecast
Direxion Daily MSFT Bull 1.5X Shares ETF downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 29, 2024)
The Direxion Daily MSFT Bull 1.5X Shares ETF price fell by -2.04% on the last day (Monday, 29th Apr 2024) from $42.14 to $41.28. During the last trading day the ETF fluctuated 3.34% from a day low at $40.66 to a day high of $42.02. The price has been going up and down for this period, and there has been a -6.01% loss for the last 2 weeks. 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 -230 thousand shares and in total, 340 thousand shares were bought and sold for approximately $14.04 million.
The ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $40.66 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Direxion Daily MSFT Bull 1.5X Shares ETF with a 90% probability to be traded between $39.87 and $46.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MSFU Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.30%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily MSFT Bull 1.5X 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 $41.64 and $44.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Direxion Daily MSFT Bull 1.5X Shares ETF
Direxion Daily MSFT Bull 1.5X Shares finds support from accumulated volume at $41.17 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 $1.36 between high and low, or 3.34%. For the last week, the ETF has had daily average volatility of 3.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSFU) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Direxion Daily MSFT Bull 1.5X Shares to open at $41.32, and during the day (based on 14 day Average True Range), to move between $39.62 and $42.94, which gives a possible trading interval of +/-$1.66 (+/-4.02%) up or down from last closing price. If Direxion Daily MSFT Bull 1.5X Shares takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.17 (0.27%) than the resistance at $42.14 (2.08%), 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 Bull 1.5X Shares ETF A Buy?
Direxion Daily MSFT Bull 1.5X Shares holds several negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -2.844 Sell Candidate Downgraded
Predicted Opening Price for Direxion Daily MSFT Bull 1.5X Shares of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $41.32 ( 0.0969%) | $41.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSFU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.68 | 3.39 % | |
| R2 | 42.16 | 2.13 % | ||
| R1 | 41.84 | 1.36 % | ||
| Current price: | 41.28 | |||
| Support | S1 | 40.80 | -1.16 % | |
| S2 | 40.48 | -1.94 % | ||
| S3 | 39.96 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.25 | 7.19 % | |
| R2 | 43.85 | 6.23 % | ||
| R1 | 42.14 | 2.08 % | ||
| Current price | 41.28 | |||
| Support | S1 | 41.17 | -0.266% | |
| S2 | 40.79 | -1.19% | ||
| S3 | 40.75 | -1.28% |
MSFU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.305 | 0.662% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.300 | 0.757% |
| 3 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.264 | 0.86% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.178 | 0.506% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0950 | 0.356% |
FAQ
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