Bullish trend for leveraged gold miners ETF looks to continue
The Direxion Daily Gold Miners Index Bull 3x Shares (NYSE: NUGT) has been trending higher since September, but the fund has really seen the trend become more apparent since November. After falling sharply in July and August, the fund turned higher in early September, but pulled back again in the last half of October and early November.
The fund hit a low of $11.78 on November 13 and then trended higher through early January, reaching as high as $18.48 on January 3. It then proceeded to dip back down a little to its 50-day moving average and what has become the lower rail of an upward sloped trend channel.
The daily stochastic readings reached oversold territory in January and then turned higher. The fund proceeded to jump nearly 40% from January 18 through the high on January 31. The fund has pulled back again in recent weeks and has moved back down to the lower rail of the channel. The stochastic readings have moved back down to oversold territory as well, but they made a bullish crossover on March 5.
The Tickeron AI Trend Prediction tool generated a bullish signal on March 4 with a confidence level of 84% and it calls for a gain of at least 4% over the next month. Previous predictions have been correct an incredible 99% of the time.
Given the formation on the chart, the confidence level, and the success rate of previous predictions, I look for the fund to resume its upward trend over the next month.
NUGT's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for NUGT turned positive on October 16, 2025. Looking at past instances where NUGT's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where NUGT advanced for three days, in of 305 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 184 cases where NUGT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NUGT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
NUGT broke above its upper Bollinger Band on October 15, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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