DIREXION DAILY HOMEBUILDERS & SUPPLIES ETF Forecast
DIREXION DAILY HOMEBUILDERS & SUPPLIES ETF price ended at $108.14 on Thursday, after losing 1.08%.
(Updated on Apr 25, 2024)
The DIREXION DAILY HOMEBUILDERS & SUPPLIES ETF price fell by -1.08% on the last day (Thursday, 25th Apr 2024) from $109.32 to $108.14. During the last trading day the ETF fluctuated 9.79% from a day low at $99.28 to a day high of $109.00. The price has fallen in 7 of the last 10 days and is down by -9.2% for this period. Volume has increased on the last day by 66 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 286 thousand shares were bought and sold for approximately $30.96 million.
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $103.08 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 11.26% during the next 3 months and, with a 90% probability hold a price between $114.69 and $173.93 at the end of this 3-month period.
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NAIL Signals & Forecast
There are mixed signals in the ETF today. The DIREXION DAILY HOMEBUILDERS & SUPPLIES 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 $126.49. On a fall, the ETF will find some support from the short-term average at $106.51. 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. 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 ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.96%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for DIREXION DAILY HOMEBUILDERS & SUPPLIES ETF
DIREXION DAILY HOMEBUILDERS & SUPPLIES finds support from accumulated volume at $107.31 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 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 $9.72 between high and low, or 9.79%. For the last week, the ETF has had daily average volatility of 8.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NAIL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect DIREXION DAILY HOMEBUILDERS & SUPPLIES BULL 3X SHARES to open at $105.47, and during the day (based on 14 day Average True Range), to move between $99.83 and $116.45, which gives a possible trading interval of +/-$8.31 (+/-7.68%) up or down from last closing price. If DIREXION DAILY HOMEBUILDERS & SUPPLIES BULL 3X SHARES takes out the full calculated possible swing range there will be an estimated 15.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $107.31 (0.77%) than the resistance at $116.02 (7.29%), 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 HOMEBUILDERS & SUPPLIES BULL 3X SHARES ETF A Buy?
DIREXION DAILY HOMEBUILDERS & SUPPLIES 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: -2.260 Sell Candidate Unchanged
Predicted Opening Price for DIREXION DAILY HOMEBUILDERS & SUPPLIES BULL 3X SHARES of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $105.47 ( 2.47%) | $108.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAIL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.19 | 6.52 % | |
| R2 | 111.48 | 3.09 % | ||
| R1 | 109.19 | 0.97 % | ||
| Current price: | 108.14 | |||
| Support | S1 | 101.76 | -5.90 % | |
| S2 | 99.47 | -8.02 % | ||
| S3 | 95.75 | -11.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.20 | 22.25 % | |
| R2 | 121.47 | 12.33 % | ||
| R1 | 116.02 | 7.29 % | ||
| Current price | 108.14 | |||
| Support | S1 | 107.31 | -0.768% | |
| S2 | 105.29 | -2.64% | ||
| S3 | 103.21 | -4.56% |
NAIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.168 | 0.120% |
| 2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0360 | 0.0332% |
| 3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.0360 | 0.0670% |
| 4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.0130 | 0.0176% |
| 5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.152 | 0.374% |
FAQ
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