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 sees its 50-day moving average cross bearishly below its 200-day moving average
The 50-day moving average for NUGT moved below the 200-day moving average on June 09, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Technical Analysis (Indicators)
Bearish Trend Analysis
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 .
The Aroon Indicator for NUGT entered a downward trend on July 06, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where NUGT's RSI Oscillator exited the oversold zone, of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 60 cases where NUGT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on July 09, 2026. You may want to consider a long position or call options on NUGT as a result. In of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NUGT just turned positive on July 02, 2026. Looking at past instances where NUGT's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NUGT advanced for three days, in of 329 cases, the price rose further within the following month. The odds of a continued upward trend are .
NUGT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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