DIREXION AUSPICE BROAD COMMODITY Stock Forecast

DIREXION AUSPICE BROAD COMMODITY stock upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)

COM.L Signals & Forecast

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. The DIREXION AUSPICE BROAD COMMODITY stock 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 £6.74 and £6.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.19%. Further fall is indicated until a new bottom pivot has been found. DIREXION AUSPICE BROAD COMMODITY gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, February 13, 2024 and based on theory for this formation the price should go up by 12.44% to £7.50 within 2 trading days since signal was issued (Wednesday, April 24, 2024).

Support, Risk & Stop-loss for DIREXION AUSPICE BROAD COMMODITY stock

DIREXION AUSPICE BROAD COMMODITY finds support from accumulated volume at £6.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.0100 between high and low, or 0.150%. For the last week the stock has had daily average volatility of 0.799%.

Our recommended stop-loss: £6.43 (-3.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (COM.L) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect DIREXION AUSPICE BROAD COMMODITY STRATEGY ETF to open at £6.67, and during the day (based on 14 day Average True Range), to move between £6.50 and £6.84, which gives a possible trading interval of +/-£0.174 (+/-2.61%) up or down from last closing price. If DIREXION AUSPICE BROAD COMMODITY STRATEGY ETF takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £6.75 (1.20%) than the support at £6.50 (2.55%), 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 AUSPICE BROAD COMMODITY STRATEGY ETF stock A Buy?

DIREXION AUSPICE BROAD COMMODITY holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for DIREXION AUSPICE BROAD COMMODITY STRATEGY ETF of Wednesday, April 24, 2024

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