DRN Price Prediction, Direxion Daily Real Estate Bull 3X ETF AI Recommendations
DRN's RSI Oscillator ascends from oversold territory
The RSI Indicator for DRN moved out of oversold territory on June 21, 2022. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 25 similar instances when the indicator left oversold territory. In 23 of the 25 cases the stock moved higher. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 27, 2022. You may want to consider a long position or call options on DRN as a result. In of 98 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 DRN just turned positive on June 23, 2022. Looking at past instances where DRN's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where DRN advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .
DRN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 64 cases where DRN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DRN 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 DRN entered a downward trend on June 28, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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General Information
Category Trading
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DRN and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, DRN has been closely correlated with SPXL. These tickers have moved in lockstep 76% of the time. This A.I.-generated data suggests there is a high statistical probability that if DRN jumps, then SPXL could also see price increases.
| Ticker / NAME | Correlation To DRN | 1D Price Change % |
|---|---|---|
| DRN | 100% | +5.75% |
| SPXL - DRN | 76% Closely correlated | +3.17% |
| SSO - DRN | 76% Closely correlated | +2.09% |
| TQQQ - DRN | 66% Loosely correlated | +1.62% |
| QLD - DRN | 66% Loosely correlated | +1.30% |
| SOXL - DRN | 56% Loosely correlated | -11.45% |