Direxion Dialy Small Cap Bull 3x Shares ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Monday for Direxion Dialy Small Cap Bull 3x Shares
(Updated on May 06, 2024)
The Direxion Dialy Small Cap Bull 3x Shares ETF price gained 3.67% on the last trading day (Monday, 6th May 2024), rising from $37.05 to $38.41. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.01% from a day low at $37.87 to a day high of $38.63. The price has risen in 7 of the last 10 days and is up by 13.67% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 9 million shares were bought and sold for approximately $343.39 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 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 -6.81% during the next 3 months and, with a 90% probability hold a price between $29.79 and $38.79 at the end of this 3-month period.
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TNA Signals & Forecast
Mostly positive signals in the chart today. The Direxion Dialy Small Cap Bull 3x Shares 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 $35.86 and $37.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 17.95%. 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). 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. 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.
Golden Star 12 Months
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 $38.07 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 $0.760 between high and low, or 2.01%. For the last week, the ETF has had daily average volatility of 4.92%.
Our recommended stop-loss: $37.20 (-3.16%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TNA) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Direxion Dialy Small Cap Bull 3x Shares to open at $38.30, and during the day (based on 14 day Average True Range), to move between $36.48 and $40.34, which gives a possible trading interval of +/-$1.93 (+/-5.03%) 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 10.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.07 (0.89%) than the resistance at $39.58 (3.05%), 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?
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.
Current score: 2.651 Buy Candidate Unchanged
Predicted Opening Price for Direxion Dialy Small Cap Bull 3x Shares of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $38.30 ( 0.278%) | $38.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.06 | 1.70 % | |
| R2 | 38.77 | 0.95 % | ||
| R1 | 38.59 | 0.478 % | ||
| Current price: | 38.41 | |||
| Support | S1 | 38.01 | -1.03 % | |
| S2 | 37.83 | -1.50 % | ||
| S3 | 37.54 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.97 | 6.66 % | |
| R2 | 39.99 | 4.11 % | ||
| R1 | 39.58 | 3.05 % | ||
| Current price | 38.41 | |||
| Support | S1 | 38.07 | -0.89% | |
| S2 | 37.58 | -2.16% | ||
| S3 | 34.74 | -9.55% |
TNA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0264 | 0.0661% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.218 | 0.558% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0170 | 0.0613% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.228 | 0.676% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.0380 | 0.128% |
FAQ
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