Direxion Daily Nvda Bear 1x Shares ETF Forecast
Stronger technical forecast for Direxion Daily Nvda Bear 1x Shares ETF price after Monday trading.
(Updated on Jun 17, 2024)
The Direxion Daily Nvda Bear 1x Shares ETF price gained 0.93% on the last trading day (Monday, 17th Jun 2024), rising from $7.53 to $7.60. During the last trading day the ETF fluctuated 2.89% from a day low at $7.45 to a day high of $7.67. The price has fallen in 6 of the last 10 days and is down by -12.44% for this period. Volume fell on the last day by -409 thousand shares and in total, 656 thousand shares were bought and sold for approximately $4.98 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -27.40% during the next 3 months and, with a 90% probability hold a price between $5.42 and $7.88 at the end of this 3-month period.
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NVDD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily Nvda Bear 1x 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 $7.92 and $9.86. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Direxion Daily Nvda Bear 1x Shares ETF
Direxion Daily Nvda Bear 1x Shares finds support from accumulated volume at $7.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.215 between high and low, or 2.89%. For the last week, the ETF has had daily average volatility of 3.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVDD) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Direxion Daily Nvda Bear 1x Shares to open at $7.57, and during the day (based on 14 day Average True Range), to move between $7.22 and $7.98, which gives a possible trading interval of +/-$0.375 (+/-4.94%) up or down from last closing price. If Direxion Daily Nvda Bear 1x Shares takes out the full calculated possible swing range there will be an estimated 9.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.53 (0.92%) than the resistance at $7.68 (1.05%), 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 Nvda Bear 1x Shares ETF A Buy?
Direxion Daily Nvda Bear 1x Shares holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.379 Sell Candidate Upgraded
Predicted Opening Price for Direxion Daily Nvda Bear 1x Shares of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$7.57 ( 0.373%) | $7.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVDD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.79 | 2.46% |
R2 | 7.70 | 1.38% |
R1 | 7.65 | 0.708% |
Price | 7.60 | |
S1 | 7.49 | -1.45% |
S2 | 7.44 | -2.12% |
S3 | 7.36 | -3.20% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8.23 | 8.29% |
R2 | 8.19 | 7.76% |
R1 | 7.68 | 1.05% |
Price | 7.60 | |
S1 | 7.53 | -0.92% |
S2 | 0 | - |
S3 | 0 | - |
NVDD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.120 | 1.07% |
2 | Dec 20, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.261 | 1.18% |
3 | Dec 07, 2023 | Dec 08, 2023 | Dec 14, 2023 | $0.0311 | 0.135% |
FAQ
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