Direxion Dialy Small Cap Bull 3x Shares ETF Forecast

Evaluation of Direxion Dialy Small Cap Bull 3x Shares ETF downgraded after the last trading session.
(Updated on Apr 25, 2024)

TNA Signals & Forecast

There are mixed signals in the ETF today. The Direxion Dialy Small Cap Bull 3x Shares ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $38.20. On a fall, the ETF will find some support from the short-term average at $33.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.57%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Tuesday, June 27, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Direxion Dialy Small Cap Bull 3x Shares ETF

Direxion Dialy Small Cap Bull 3x Shares finds support from accumulated volume at $34.21 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 $1.61 between high and low, or 4.87%. For the last week, the ETF has had daily average volatility of 5.03%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TNA) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Direxion Dialy Small Cap Bull 3x Shares to open at $33.96, and during the day (based on 14 day Average True Range), to move between $32.44 and $36.32, which gives a possible trading interval of +/-$1.94 (+/-5.64%) up or down from last closing price. If Direxion Dialy Small Cap Bull 3x Shares takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $34.21 (0.49%) than the resistance at $34.74 (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 Dialy Small Cap Bull 3x Shares ETF A Buy?

Direxion Dialy Small Cap Bull 3x Shares holds several negative signals and we believe that 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 Sell candidate.

Current score: -3.068 Sell Candidate Downgraded

Predicted Opening Price for Direxion Dialy Small Cap Bull 3x Shares of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.