Direxion Daily 20+ Year Treasury Bull 3X ETF Forecast
Stronger technical forecast for Direxion Daily 20+ Year Treasury Bull 3X ETF price after Wednesday trading.
(Updated on Mar 27, 2024)
The Direxion Daily 20+ Year Treasury Bull 3X ETF price gained 2.53% on the last trading day (Wednesday, 27th Mar 2024), rising from $53.28 to $54.63. During the last trading day the ETF fluctuated 2.34% from a day low at $53.43 to a day high of $54.68. The price has been going up and down for this period, and there has been a -0.65% loss for the last 2 weeks. Volume fell on the last day by -139 thousand shares and in total, 6 million shares were bought and sold for approximately $330.14 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 middle of a 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 -12.31% during the next 3 months and, with a 90% probability hold a price between $41.89 and $50.40 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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TMF Signals & Forecast
The Direxion Daily 20+ Year Treasury Bull 3X ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $52.88 and $53.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 6.66%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Direxion Daily 20+ Year Treasury Bull 3X ETF
Direxion Daily 20+ Year Treasury Bull 3X finds support from accumulated volume at $54.45 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 $1.25 between high and low, or 2.34%. For the last week, the ETF has had daily average volatility of 1.84%.
Our recommended stop-loss: $51.83 (-5.13%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (TMF) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Direxion Daily 20+ Year Treasury Bull 3X Shares to open at $54.25, and during the day (based on 14 day Average True Range), to move between $53.10 and $56.16, which gives a possible trading interval of +/-$1.53 (+/-2.80%) up or down from last closing price. If Direxion Daily 20+ Year Treasury Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.45 (0.33%) than the resistance at $56.12 (2.73%), 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 20+ Year Treasury Bull 3X Shares ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.522 Buy Candidate Upgraded
Predicted Opening Price for Direxion Daily 20+ Year Treasury Bull 3X Shares of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$54.25 ( 0.702%) | $54.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.50 | 1.59 % | |
R2 | 55.02 | 0.712 % | ||
R1 | 54.72 | 0.172 % | ||
Current price: | 54.63 | |||
Support | S1 | 53.77 | -1.58 % | |
S2 | 53.47 | -2.12 % | ||
S3 | 53.00 | -2.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.26 | 8.48 % | |
R2 | 56.33 | 3.11 % | ||
R1 | 56.12 | 2.73 % | ||
Current price | 54.63 | |||
Support | S1 | 54.45 | -0.329% | |
S2 | 53.60 | -1.89% | ||
S3 | 51.63 | -5.49% |
TMF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.320 | 0.600% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $1.00 | 1.53% |
3 | Feb 08, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0500 | 0.103% |
4 | Feb 08, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0480 | 0.0602% |
5 | Feb 08, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0350 | 0.0414% |
FAQ
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