Direxion Daily S&P 500 Bear 3X Shares ETF Forecast
Red day on Thursday for Direxion Daily S&P 500 Bear 3X Shares
(Updated on Mar 28, 2024)
No changes to the price of Direxion Daily S&P 500 Bear 3X Shares ETF on the last trading day (Thursday, 28th Mar 2024). During the last trading day the ETF fluctuated 1.15% from a day low at $8.66 to a day high of $8.76. The price has fallen in 5 of the last 10 days and is down by -6.43% for this period.
The ETF lies in the middle of a 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 -26.41% during the next 3 months and, with a 90% probability hold a price between $6.30 and $6.74 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.
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SPXS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily S&P 500 Bear 3X 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 $8.80 and $9.52. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Direxion Daily S&P 500 Bear 3X Shares ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.1000 between high and low, or 1.15%. For the last week, the ETF has had daily average volatility of 1.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPXS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Direxion Daily S&P 500 Bear 3X Shares to open at $8.72, and during the day (based on 14 day Average True Range), to move between $8.50 and $8.96, which gives a possible trading interval of +/-$0.231 (+/-2.65%) up or down from last closing price. If Direxion Daily S&P 500 Bear 3X Shares takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.75, some $1.02 (11.68%) from the current price of $8.73, our system finds the risk reward not very attractive.
Is Direxion Daily S&P 500 Bear 3X Shares ETF A Buy?
Direxion Daily S&P 500 Bear 3X Shares holds several negative signals and is within a 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.
Current score: -2.596 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily S&P 500 Bear 3X Shares of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$8.72 ( 0.153%) | $8.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPXS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.82 | 0.99 % | |
R2 | 8.78 | 0.555 % | ||
R1 | 8.75 | 0.285 % | ||
Current price: | 8.73 | |||
Support | S1 | 8.68 | -0.590 % | |
S2 | 8.65 | -0.86 % | ||
S3 | 8.62 | -1.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.43 | 19.47 % | |
R2 | 10.38 | 18.90 % | ||
R1 | 9.75 | 11.68 % | ||
Current price | 8.73 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
SPXS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.137 | 1.54% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.104 | 0.89% |
3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.159 | 1.00% |
4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.158 | 1.08% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.233 | 1.19% |
FAQ
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