DRN Direxion Daily Real Estate Bull 3X ETF Forecast, Technical & Fundamental Analysis
Momentum Indicator for DRN turns positive, indicating new upward trend
DRN saw its Momentum Indicator move above the 0 level on November 02, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 90 similar instances where the indicator turned positive. In of the 90 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for DRN just turned positive on October 31, 2023. Looking at past instances where DRN's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
DRN moved above its 50-day moving average on November 14, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for DRN crossed bullishly above the 50-day moving average on November 15, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 DRN advanced for three days, in of 337 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 261 cases where DRN 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 demonstrates that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 14 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 .
DRN broke above its upper Bollinger Band on December 01, 2023. 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.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Trading
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| JTQRX | 13.27 | 0.02 | +0.15% |
| JHancock ESG International Equity R6 | |||
| FCNAX | 37.66 | 0.02 | +0.05% |
| Fidelity Advisor® Consumer Discret A | |||
| ARLSX | 10.13 | N/A | N/A |
| AMG River Road International Value Eq N | |||
| CMIDX | 23.97 | -0.02 | -0.08% |
| Congress Mid Cap Growth Retail | |||
| JHLVX | 52.55 | -0.15 | -0.28% |
| JHancock Fundamental Large Cap Core C | |||
DRN and
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 71% 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% | -0.88% | ||
| SPXL - DRN | 71% Closely correlated | -1.31% | ||
| SSO - DRN | 71% Closely correlated | -0.83% | ||
| QLD - DRN | 56% Loosely correlated | -1.16% | ||
| TQQQ - DRN | 55% Loosely correlated | -1.78% | ||
| SOXL - DRN | 46% Loosely correlated | -2.10% |