Direxion Daily Tsla Bull 1.5x Shares Stock Forecast
Direxion Daily Tsla Bull 1.5x Shares stock price down 3.84% on Wednesday
(Updated on May 01, 2024)
The Direxion Daily Tsla Bull 1.5x Shares stock price fell by -3.84% on the last day (Wednesday, 1st May 2024) from $8.33 to $8.01. During the last trading day the stock fluctuated 7.83% from a day low at $7.92 to a day high of $8.54. The price has fallen in 6 of the last 10 days but is still up by 28.37% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 25 million shares were bought and sold for approximately $203.51 million.
The stock 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 stock is expected to fall -26.04% during the next 3 months and, with a 90% probability hold a price between $3.56 and $6.84 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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TSLL Signals & Forecast
The Direxion Daily Tsla Bull 1.5x Shares stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.46 and $7.43. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -14.42%. Further fall is indicated until a new bottom pivot has been found. 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 Tsla Bull 1.5x Shares stock
Direxion Daily Tsla Bull 1.5x Shares finds support from accumulated volume at $7.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.620 between high and low, or 7.83%. For the last week, the stock has had daily average volatility of 10.93%.
Our recommended stop-loss: $7.53 (-6.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TSLL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Direxion Daily Tsla Bull 1.5x Shares to open at $8.16, and during the day (based on 14 day Average True Range), to move between $7.19 and $8.83, which gives a possible trading interval of +/-$0.82 (+/-10.21%) up or down from last closing price. If Direxion Daily Tsla Bull 1.5x Shares takes out the full calculated possible swing range there will be an estimated 20.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.33 (4.00%) than the support at $7.67 (4.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Direxion Daily Tsla Bull 1.5x Shares stock A Buy?
Direxion Daily Tsla Bull 1.5x Shares holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.442 Hold/Accumulate Unchanged
Predicted Opening Price for Direxion Daily Tsla Bull 1.5x Shares of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $8.16 ( 1.83%) | $8.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSLL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.78 | 9.57 % | |
| R2 | 8.54 | 6.61 % | ||
| R1 | 8.39 | 4.79 % | ||
| Current price: | 8.01 | |||
| Support | S1 | 7.92 | -1.13 % | |
| S2 | 7.77 | -2.95 % | ||
| S3 | 7.54 | -5.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.36 | 16.85 % | |
| R2 | 8.40 | 4.87 % | ||
| R1 | 8.33 | 4.00 % | ||
| Current price | 8.01 | |||
| Support | S1 | 7.67 | -4.24% | |
| S2 | 7.34 | -8.36% | ||
| S3 | 6.66 | -16.85% |
TSLL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.0788 | 0.95% |
| 2 | Dec 20, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.125 | 0.87% |
| 3 | Dec 07, 2023 | Dec 08, 2023 | Dec 14, 2023 | $0.273 | 1.85% |
| 4 | Sep 18, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.113 | 0.757% |
| 5 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0830 | 0.493% |
FAQ
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