Direxion Daily Dow Jones Internet Bull ETF Forecast
Direxion Daily Dow Jones Internet Bull ETF price down 0.360% on Thursday
(Updated on Apr 18, 2024)
The Direxion Daily Dow Jones Internet Bull ETF price fell by -0.360% on the last day (Thursday, 18th Apr 2024) from $16.66 to $16.60. During the last trading day the ETF fluctuated 4.29% from a day low at $16.47 to a day high of $17.18. The price has been going up and down for this period, and there has been a -8.64% loss for the last 2 weeks. Volume has increased on the last day by 157 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 465 thousand shares were bought and sold for approximately $7.71 million.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $17.29. A reaction back to this level may hold a second chance to get out before further falls.
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WEBL Signals & Forecast
There are few to no technical positive signals at the moment. The Direxion Daily Dow Jones Internet Bull ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.73 and $18.55. 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 11, 2024, and so far it has fallen -15.52%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Direxion Daily Dow Jones Internet Bull ETF
Direxion Daily Dow Jones Internet Bull finds support from accumulated volume at $16.40 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 $0.707 between high and low, or 4.29%. For the last week, the ETF has had daily average volatility of 6.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WEBL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Direxion Daily Dow Jones Internet Bull 3X Shares to open at $16.75, and during the day (based on 14 day Average True Range), to move between $15.69 and $17.51, which gives a possible trading interval of +/-$0.91 (+/-5.51%) up or down from last closing price. If Direxion Daily Dow Jones Internet Bull 3X Shares takes out the full calculated possible swing range there will be an estimated 11.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.40 (1.20%) than the resistance at $17.60 (6.02%), 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 Dow Jones Internet Bull 3X Shares ETF A Buy?
The Direxion Daily Dow Jones Internet Bull ETF holds several negative signals and despite the positive trend, we believe Direxion Daily Dow Jones Internet Bull will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.937 Sell Candidate Unchanged
Predicted Opening Price for Direxion Daily Dow Jones Internet Bull 3X Shares of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $16.75 ( 0.90%) | $16.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEBL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.46 | 5.16 % | |
| R2 | 17.19 | 3.53 % | ||
| R1 | 17.02 | 2.52 % | ||
| Current price: | 16.60 | |||
| Support | S1 | 16.48 | -0.729 % | |
| S2 | 16.31 | -1.73 % | ||
| S3 | 16.04 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.35 | 10.54 % | |
| R2 | 17.88 | 7.71 % | ||
| R1 | 17.60 | 6.02 % | ||
| Current price | 16.60 | |||
| Support | S1 | 16.40 | -1.20% | |
| S2 | 16.13 | -2.83% | ||
| S3 | 16.03 | -3.43% |
WEBL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0001 | 0.0010% |
| 2 | Dec 08, 2021 | Dec 09, 2021 | Dec 16, 2021 | $3.05 | 5.13% |
| 3 | Dec 20, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.0180 | 0.0647% |
FAQ
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