Direxion Daily Jr Gld Mnrs Bear 3X ETF Forecast

Strong day for Direxion Daily Jr Gld Mnrs Bear 3X ETF price on Monday rising 9.32% to $4.49
(Updated on Apr 22, 2024)

JDST Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 13.17%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direxion Daily Jr Gld Mnrs Bear 3X ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $5.04. On a fall, the ETF will find some support from the short-term average at $4.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Direxion Daily Jr Gld Mnrs Bear 3X ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $4.24 and $4.23. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Direxion Daily Jr Gld Mnrs Bear 3X finds support just below today's level at $4.24. If this is broken, then the next support from accumulated volume will be at $4.23 and $4.13.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.208 between high and low, or 4.82%. For the last week, the ETF has had daily average volatility of 5.01%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JDST) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Direxion Daily Jr Gld Mnrs Bear 3X ETF to open at $4.44, and during the day (based on 14 day Average True Range), to move between $4.19 and $4.80, which gives a possible trading interval of +/-$0.307 (+/-6.84%) up or down from last closing price. If Direxion Daily Jr Gld Mnrs Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 13.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $4.24 (5.63%) than the resistance at $4.91 (9.28%), 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 Jr Gld Mnrs Bear 3X ETF ETF A Buy?

Direxion Daily Jr Gld Mnrs Bear 3X holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -1.607 Sell Candidate Unchanged

Predicted Opening Price for Direxion Daily Jr Gld Mnrs Bear 3X ETF of Tuesday, April 23, 2024

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