Direxion Daily Nvda Bull 1.5X Shares ETF Forecast
Volatile ride for Direxion Daily Nvda Bull 1.5X Shares ETF price on Wednesday moving between $51.01 and $57.23
(Updated on May 01, 2024)
The Direxion Daily Nvda Bull 1.5X Shares ETF price fell by -7.44% on the last day (Wednesday, 1st May 2024) from $57.77 to $53.47. During the last trading day the ETF fluctuated 12.19% from a day low at $51.01 to a day high of $57.23. The price has risen in 6 of the last 10 days but is still down by -5.04% for this period. Volume has increased on the last day by 239 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 653 thousand shares were bought and sold for approximately $34.92 million.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -22.05% during the next 3 months and, with a 90% probability hold a price between $31.82 and $45.75 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NVDU Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily Nvda Bull 1.5X Shares ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $55.27 and $54.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -10.70%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Direxion Daily Nvda Bull 1.5X Shares ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $49.61 and $49.54. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Direxion Daily Nvda Bull 1.5X Shares finds support just below today's level at $49.61. If this is broken, then the next support from accumulated volume will be at $49.54 and $45.56.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $6.22 between high and low, or 12.19%. For the last week, the ETF has had daily average volatility of 9.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVDU) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Direxion Daily Nvda Bull 1.5X Shares to open at $53.90, and during the day (based on 14 day Average True Range), to move between $48.38 and $58.56, which gives a possible trading interval of +/-$5.09 (+/-9.52%) up or down from last closing price. If Direxion Daily Nvda Bull 1.5X Shares takes out the full calculated possible swing range there will be an estimated 19.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.61 (7.22%) than the resistance at $57.77 (8.04%), 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 Bull 1.5X Shares ETF A Buy?
Direxion Daily Nvda Bull 1.5X 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. 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 Strong Sell candidate.
Current score: -6.691 Strong Sell Candidate Downgraded
Predicted Opening Price for Direxion Daily Nvda Bull 1.5X Shares of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $53.90 ( 0.81%) | $53.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVDU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.12 | 12.44 % | |
| R2 | 57.75 | 8.00 % | ||
| R1 | 56.28 | 5.25 % | ||
| Current price: | 53.47 | |||
| Support | S1 | 51.53 | -3.63 % | |
| S2 | 50.06 | -6.38 % | ||
| S3 | 47.68 | -10.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.88 | 11.99 % | |
| R2 | 59.87 | 11.97 % | ||
| R1 | 57.77 | 8.04 % | ||
| Current price | 53.47 | |||
| Support | S1 | 49.61 | -7.22% | |
| S2 | 49.54 | -7.35% | ||
| S3 | 45.56 | -14.79% |
NVDU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.261 | 0.381% |
| 2 | Dec 20, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.177 | 0.634% |
FAQ
Click here for our free guide on how to buy Direxion Daily Nvda Bull 1.5X Shares ETF.
