DIREXION DAILY FINANCIAL BULL 3X SHARES Stock Forecast

Evaluation of DIREXION DAILY FINANCIAL BULL 3X SHARES stock downgraded after the last trading session.
(Updated on Apr 25, 2024)

FAS.L Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -0.775%. 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 stock should be followed more closely. The DIREXION DAILY FINANCIAL BULL 3X 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 £508.29 and £497.37. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Friday, March 22, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for DIREXION DAILY FINANCIAL BULL 3X SHARES stock

DIREXION DAILY FINANCIAL BULL 3X SHARES finds support from accumulated volume at £491.00 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 £9.04 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: £496.89 (-2.95%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (FAS.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect DIREXION DAILY FINANCIAL BULL 3X SHARES to open at £512.35, and during the day (based on 14 day Average True Range), to move between £502.86 and £521.14, which gives a possible trading interval of +/-£9.14 (+/-1.79%) up or down from last closing price. If DIREXION DAILY FINANCIAL BULL 3X SHARES takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £514.00 (0.39%) than the support at £491.00 (4.10%), 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 FINANCIAL BULL 3X SHARES stock A Buy?

DIREXION DAILY FINANCIAL BULL 3X 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.756 Hold/Accumulate Downgraded

Predicted Opening Price for DIREXION DAILY FINANCIAL BULL 3X SHARES of Friday, April 26, 2024

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