Direxion Daily S&P Biotech Bear 3X ETF Forecast

$7.28
-0.530 (-6.79%)
At Close: Mar 27, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of LABD
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Direxion Daily S&P Biotech Bear 3X ETF price took a fall of -6.79% on Wednesday
(Updated on Mar 27, 2024)

Sell candidate since Mar 27, 2024 PDF

The Direxion Daily S&P Biotech Bear 3X ETF price fell by -6.79% on the last day (Wednesday, 27th Mar 2024) from $7.81 to $7.28. During the last trading day the ETF fluctuated 8.52% from a day low at $7.28 to a day high of $7.90. The price has risen in 5 of the last 10 days and is up by 5.05% over the past 2 weeks. Volume has increased on the last day by 811 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, 12 million shares were bought and sold for approximately $86.83 million.

The ETF lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.47 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -30.89% during the next 3 months and, with a 90% probability hold a price between $3.28 and $5.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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LABD 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 S&P Biotech Bear 3X 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 $7.50 and $7.53. 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 -7.26%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for Direxion Daily S&P Biotech Bear 3X ETF

Direxion Daily S&P Biotech Bear 3X finds support from accumulated volume at $7.12 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 $0.620 between high and low, or 8.52%. For the last week, the ETF has had daily average volatility of 6.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (LABD) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Direxion Daily S&P Biotech Bear 3X ETF to open at $7.49, and during the day (based on 14 day Average True Range), to move between $6.68 and $7.88, which gives a possible trading interval of +/-$0.596 (+/-8.19%) up or down from last closing price. If Direxion Daily S&P Biotech Bear 3X ETF takes out the full calculated possible swing range there will be an estimated 16.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.12 (2.20%) than the resistance at $7.81 (7.28%), 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 S&P Biotech Bear 3X ETF ETF A Buy?

Direxion Daily S&P Biotech Bear 3X 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 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 Strong Sell candidate.

Current score: -5.570 Strong Sell Candidate Downgraded

Predicted Opening Price for Direxion Daily S&P Biotech Bear 3X ETF of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$7.49 ( 2.84%) $7.28

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for LABD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 8.11 11.36 %
R2 7.87 8.10 %
R1 7.72 6.09 %
Current price: 7.28
Support S1 7.25 -0.414 %
S2 7.10 -2.42 %
S3 6.87 -5.68 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 8.34 14.56 %
R2 8.28 13.74 %
R1 7.81 7.28 %
Current price 7.28
Support S1 7.12 -2.20%
S2 6.69 -8.10%
S3 5.90 -18.96%

LABD Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 18, 2024 Mar 19, 2024 Mar 26, 2024 $0.0664 0.85%
2 Dec 21, 2023 Dec 21, 2023 Dec 21, 2023 $0.0850 0.742%
3 Mar 23, 2023 Sep 19, 2023 Sep 26, 2023 $0.192 0.94%
4 Mar 23, 2023 Jun 21, 2023 Jun 28, 2023 $0.100 0.714%
5 Mar 20, 2023 Mar 21, 2023 Mar 28, 2023 $0.218 0.99%

FAQ

What is the symbol for Direxion Daily S&P Biotech Bear 3X ETF ETF and on which exchange is it traded?
The symbol for Direxion Daily S&P Biotech Bear 3X ETF is LABD and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell Direxion Daily S&P Biotech Bear 3X ETF ETF?
Direxion Daily S&P Biotech Bear 3X 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 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 Strong Sell candidate.

How to buy Direxion Daily S&P Biotech Bear 3X ETF ETF?
Direxion Daily S&P Biotech Bear 3X ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Direxion Daily S&P Biotech Bear 3X ETF ETF.

What's the current price of Direxion Daily S&P Biotech Bear 3X ETF ETF?
As of the end of day on the 2024-03-27, the price of an Direxion Daily S&P Biotech Bear 3X ETF (LABD) share was $7.28.

What is the 52-week high and low for Direxion Daily S&P Biotech Bear 3X ETF ETF?
The 52-week high for Direxion Daily S&P Biotech Bear 3X ETF ETF is $29.88 and the 52-week low is $5.72.

What is the market capitalization of Direxion Daily S&P Biotech Bear 3X ETF ETF?
As of the 2024-03-27, the market capitalization of Direxion Daily S&P Biotech Bear 3X ETF is 178.536M.
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