Direxion Daily Nvda Bull 1.5X Shares ETF Forecast
Red day on Tuesday for Direxion Daily Nvda Bull 1.5X Shares
(Updated on Jul 02, 2024)
The Direxion Daily Nvda Bull 1.5X Shares ETF price fell by -2.40% on the last day (Tuesday, 2nd Jul 2024) from $112.11 to $109.42. During the last trading day the ETF fluctuated 3.84% from a day low at $106.55 to a day high of $110.64. The price has fallen in 6 of the last 10 days and is down by -14.36% for this period. 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 -245 thousand shares and in total, 407 thousand shares were bought and sold for approximately $44.54 million.
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $103.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 115.34% during the next 3 months and, with a 90% probability hold a price between $222.43 and $318.79 at the end of this 3-month period.
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NVDU Signals & Forecast
The Direxion Daily Nvda Bull 1.5X 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 $111.51. On a fall, the ETF will find some support from the long-term average at approximately $99.89. 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. 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, June 18, 2024, and so far it has fallen -19.86%. 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 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 Nvda Bull 1.5X Shares ETF
Direxion Daily Nvda Bull 1.5X Shares finds support from accumulated volume at $109.05 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 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 $4.09 between high and low, or 3.84%. For the last week, the ETF has had daily average volatility of 7.47%.
Our recommended stop-loss: $102.85 (-6.00%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (NVDU) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Direxion Daily Nvda Bull 1.5X Shares to open at $108.87, and during the day (based on 14 day Average True Range), to move between $99.90 and $118.94, which gives a possible trading interval of +/-$9.52 (+/-8.70%) 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 17.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $109.05 (0.34%) than the resistance at $116.42 (6.40%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Direxion Daily Nvda Bull 1.5X Shares ETF to perform well in the short-term.
Current score: 2.575 Buy Candidate Unchanged
Predicted Opening Price for Direxion Daily Nvda Bull 1.5X Shares of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $108.87 ( 0.503%) | $109.42 |
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 | |
|---|---|---|
| R3 | 112.96 | 3.24% |
| R2 | 111.40 | 1.81% |
| R1 | 110.43 | 0.93% |
| Price | 109.42 | |
| S1 | 107.31 | -1.93% |
| S2 | 106.34 | -2.81% |
| S3 | 104.78 | -4.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 126.76 | 15.85% |
| R2 | 119.17 | 8.91% |
| R1 | 116.42 | 6.40% |
| Price | 109.42 | |
| S1 | 109.05 | -0.338% |
| S2 | 102.66 | -6.18% |
| S3 | 90.48 | -17.31% |
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
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