Direxion Daily Gold Miners Bear 3X ETF Forecast and Stock Analysis
Technical DUST stock analysis for Wednesday June 19, 2019.
Direxion Daily Gold Miners Bear 3X ETF fell by -4.08% in the last day ( Wednesday, 19th Jun 2019 ) from $14.71 to $14.11 and has now fallen 8 days in a row. During day the stock fluctuated 7.57% from a day low at $14.00 to a day high of $15.06. The price has fallen in 9 of the last 10 days and is down by -16.36% for this period. Volume has increased in the last day by 1.78 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 8.88 million shares bought and sold for approximately $125.26 million.
- 30 day high of the DUST stock price was $23.85 and low was $14.00.
- 90 day high was $24.52 and low was $14.00.
- 52 week high for the Direxion Daily Gold Miners Bear 3X ETF - $48.79 and low - $14.00.
Direxion Daily Gold Miners Bear 3X ETF has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $16.04 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
There are few to none technical positive signals at the moment. Direxion Daily Gold Miners Bear 3X ETF holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $15.40 and $20.32. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday May 22, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 9 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.06 between high and low, or 7.57%. For the last week, the stock has had a daily average volatility of 6.09%.
Direxion Daily Gold Miners Bear 3X ETF is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buying opportunity.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
6.09 %Average volatility
Very Low Low Medium High Very High
Direxion Daily Gold Miners Bear 3X ETF 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 stock.
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