DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF Forecast
DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF price gained 0.650% on the last trading day (Thursday, 28th Mar 2024), rising from $13.84 to $13.93. During the last trading day the ETF fluctuated 0.648% from a day low at $13.88 to a day high of $13.97. The price has been going up and down for this period, and there has been a -3.47% loss for the last 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 4 thousand shares were bought and sold for approximately $62.52 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a weak 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 6.28% during the next 3 months and, with a 90% probability hold a price between $14.43 and $15.66 at the end of this 3-month period.
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TYO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $13.98 and $14.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -4.72%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF
DIREXION DAILY 7-10 YEAR TREASURY BEAR finds support from accumulated volume at $13.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0900 between high and low, or 0.648%. For the last week the ETF has had daily average volatility of 0.712%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TYO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect DIREXION DAILY 7-10 YEAR TREASURY BEAR 3X SHARES to open at $13.93, and during the day (based on 14 day Average True Range), to move between $13.75 and $14.11, which gives a possible trading interval of +/-$0.176 (+/-1.26%) up or down from last closing price. If DIREXION DAILY 7-10 YEAR TREASURY BEAR 3X SHARES takes out the full calculated possible swing range there will be an estimated 2.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.07 (1.01%) than the support at $13.41 (3.70%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is DIREXION DAILY 7-10 YEAR TREASURY BEAR 3X SHARES ETF A Buy?
The DIREXION DAILY 7-10 YEAR TREASURY BEAR ETF holds several negative signals and despite the positive trend, we believe DIREXION DAILY 7-10 YEAR TREASURY BEAR will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.247 Sell Candidate Downgraded
Predicted Opening Price for DIREXION DAILY 7-10 YEAR TREASURY BEAR 3X SHARES of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$13.93 ( 0.0239%) | $13.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TYO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.02 | 0.622 % | |
R2 | 13.98 | 0.375 % | ||
R1 | 13.96 | 0.223 % | ||
Current price: | 13.93 | |||
Support | S1 | 13.89 | -0.271 % | |
S2 | 13.87 | -0.423 % | ||
S3 | 13.84 | -0.670 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.50 | 4.09 % | |
R2 | 14.30 | 2.66 % | ||
R1 | 14.07 | 1.01 % | ||
Current price | 13.93 | |||
Support | S1 | 13.41 | -3.70% | |
S2 | 13.34 | -4.24% | ||
S3 | 13.25 | -4.88% |
TYO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 18, 2024 | Mar 19, 2024 | Mar 26, 2024 | $0.275 | 1.96% |
2 | Dec 21, 2023 | Dec 21, 2023 | Dec 21, 2023 | $0.0790 | 0.604% |
3 | Mar 23, 2023 | Sep 19, 2023 | Sep 26, 2023 | $0.128 | 0.84% |
4 | Mar 23, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.125 | 0.99% |
5 | Mar 20, 2023 | Mar 21, 2023 | Mar 28, 2023 | $0.142 | 1.16% |
FAQ
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