Direxion Daily S&P Biotech Bear 3X ETF Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
Direxion Daily S&P Biotech Bear 3X ETF fell by -4.43% in the last day from $35.02 to $33.47 The price has fallen in 6 of the last 10 days and is down by -11.76% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.27 million shares and in total 1.48 million shares bought and sold for approximately $49.44 million.
Direxion Daily S&P Biotech Bear 3X ETF lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $30.27 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 35.37% during the next 3 months and, with 90% probability hold a price between $40.98 and $68.04 at the end of this period.
There are few to none technical positive signals at the moment. Direxion Daily S&P Biotech 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 $33.51 and $36.20. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday December 07, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
Direxion Daily S&P Biotech Bear 3X ETF finds support from accumulated volume at $33.35.
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 $1.77 between high and low, or 5.46%. For the last week, the stock has had a daily average volatility of 10.16%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Direxion Daily S&P Biotech Bear 3X ETF stock holds several negative signals and despite the positive trend we believe Direxion Daily S&P Biotech Bear 3X ETF will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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