Direxion Daily Small Cap Bear 3X 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
Direxion Daily Small Cap Bear 3X ETF price ended at $18.94 on Friday, after losing 2.87%.
(Updated on May 03, 2024)
The Direxion Daily Small Cap Bear 3X ETF price fell by -2.87% on the last day (Friday, 3rd May 2024) from $19.50 to $18.94. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 4.76% from a day low at $18.30 to a day high of $19.17. The price has fallen in 7 of the last 10 days and is down by -12.8% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -265 thousand shares and in total, 22 million shares were bought and sold for approximately $413.14 million.
The ETF is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Direxion Daily Small Cap Bear 3X ETF with a 90% probability to be traded between $16.36 and $21.34 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TZA Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily Small Cap Bear 3X ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $19.99 and $19.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -13.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Small Cap Bear 3X ETF
Direxion Daily Small Cap Bear 3X finds support from accumulated volume at $18.10 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 $0.87 between high and low, or 4.76%. For the last week, the ETF has had daily average volatility of 5.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TZA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Direxion Daily Small Cap Bear 3X ETF to open at $18.80, and during the day (based on 14 day Average True Range), to move between $17.87 and $20.01, which gives a possible trading interval of +/-$1.07 (+/-5.66%) up or down from last closing price. If Direxion Daily Small Cap Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 11.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.23 (1.53%) than the support at $18.10 (4.44%), 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 Small Cap Bear 3X ETF ETF A Buy?
Direxion Daily Small Cap Bear 3X holds several negative signals and is within a very wide and 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: -4.979 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Small Cap Bear 3X ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $18.80 ( 0.721%) | $18.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TZA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.67 | 3.87 % | |
| R2 | 19.34 | 2.12 % | ||
| R1 | 19.14 | 1.03 % | ||
| Current price: | 18.94 | |||
| Support | S1 | 18.47 | -2.48 % | |
| S2 | 18.27 | -3.56 % | ||
| S3 | 17.93 | -5.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.63 | 14.20 % | |
| R2 | 19.33 | 2.06 % | ||
| R1 | 19.23 | 1.53 % | ||
| Current price | 18.94 | |||
| Support | S1 | 18.10 | -4.44% | |
| S2 | 17.99 | -5.02% | ||
| S3 | 16.94 | -10.56% |
TZA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.236 | 1.30% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.111 | 0.549% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.288 | 0.90% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.236 | 0.86% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.460 | 1.36% |
FAQ
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