Direxion Daily Jr Gld Mnrs Bull 3X ETF Forecast
Direxion Daily Jr Gld Mnrs Bull 3X ETF upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The Direxion Daily Jr Gld Mnrs Bull 3X ETF price gained 2.66% on the last trading day (Friday, 19th Apr 2024), rising from $38.36 to $39.38. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 4.12% from a day low at $38.30 to a day high of $39.88. The price has risen in 6 of the last 10 days and is up by 1.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 376 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $56.86 million.
The ETF lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 54.72% during the next 3 months and, with a 90% probability hold a price between $47.80 and $64.92 at the end of this 3-month period.
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JNUG Signals & Forecast
The Direxion Daily Jr Gld Mnrs Bull 3X ETF 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 $38.56 and $33.19. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -2.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Direxion Daily Jr Gld Mnrs Bull 3X ETF
Direxion Daily Jr Gld Mnrs Bull 3X finds support from accumulated volume at $39.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.58 between high and low, or 4.12%. For the last week, the ETF has had daily average volatility of 5.55%.
Our recommended stop-loss: $37.61 (-4.49%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (JNUG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Direxion Daily Jr Gld Mnrs Bull 3X ETF to open at $39.19, and during the day (based on 14 day Average True Range), to move between $37.18 and $41.58, which gives a possible trading interval of +/-$2.20 (+/-5.59%) up or down from last closing price. If Direxion Daily Jr Gld Mnrs Bull 3X ETF takes out the full calculated possible swing range there will be an estimated 11.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.05 (0.84%) than the resistance at $40.27 (2.26%), 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 Bull 3X ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Direxion Daily Jr Gld Mnrs Bull 3X ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.227 Buy Candidate Upgraded
Predicted Opening Price for Direxion Daily Jr Gld Mnrs Bull 3X ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $39.19 ( 0.489%) | $39.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JNUG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.77 | 3.52 % | |
| R2 | 40.16 | 1.99 % | ||
| R1 | 39.79 | 1.04 % | ||
| Current price: | 39.38 | |||
| Support | S1 | 38.58 | -2.02 % | |
| S2 | 38.21 | -2.96 % | ||
| S3 | 37.61 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 40.52 | 2.89 % | ||
| R1 | 40.27 | 2.26 % | ||
| Current price | 39.38 | |||
| Support | S1 | 39.05 | -0.84% | |
| S2 | 38.10 | -3.25% | ||
| S3 | 30.02 | -23.77% |
JNUG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.350 | 1.18% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.121 | 0.343% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.132 | 0.503% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.128 | 0.420% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.168 | 0.407% |
FAQ
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