Direxion Daily S&P Biotech Bear 3X ETF Forecast and Stock Analysis
Technical LABD stock analysis for February 15, 2019.
Direxion Daily S&P Biotech Bear 3X ETF fell by -6.29% in the last day from $24.01 to $22.50 and has now fallen 3 days in a row. The price has fallen in 7 of the last 10 days and is down by -9.46% for this period. Volume has increased in the last day by 0.51 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, 3.16 million shares bought and sold for approximately $71.14 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the LABD stock was $22.50. This is 6.29% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 6.59% from a day low at $22.50 to a day high of $23.98.
30 day high of the LABD stock price was $30.58 and low was $22.50.
90 day high was $62.25 and low was $22.50.
52 week high for the Direxion Daily S&P Biotech Bear 3X ETF - $62.25 and low - $2.71.
Direxion Daily S&P Biotech Bear 3X ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -26.07% during the next 3 months and, with 90% probability hold a price between $10.81 and $36.17 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 $24.74 and $29.46. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday February 07, 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)
The stock currently holds a RSI14 at 22 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
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 $1.48 between high and low, or 6.59%. For the last week, the stock has had a daily average volatility of 4.39%.
Direxion Daily S&P Biotech Bear 3X ETF is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
Direxion Daily S&P Biotech 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.