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DRN
ETF ticker: NYSE ARCA
AS OF
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Net Assets
63.28M

DRN Direxion Daily Real Estate Bull 3X ETF Forecast, Technical & Fundamental Analysis

Category Trading
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A.I.Advisor
a Summary for DRN with price predictions
07:00 PM EST Dec 05, 2023

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 .

Price Prediction Chart

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)

Fear & Greed
A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are PROLOGIS (NASDAQ:PLD), American Tower Corp (NASDAQ:AMT), Simon Property Group (NASDAQ:SPG).

Industry description

The investment seeks daily investment results of 300% of the daily performance of the Real Estate Select Sector Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the index, and ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is provided by S&P Dow Jones Indices (the “index provider”) and includes securities of companies from the following industries: real estate management and development and REITs, excluding mortgage REITs. It is non-diversified.

Market Cap

The average market capitalization across the Direxion Daily Real Estate Bull 3X ETF ETF is 12.68B. The market cap for tickers in the group ranges from 7.65B to 103.36B. PLD holds the highest valuation in this group at 103.36B. The lowest valued company is FRT at 7.65B.

High and low price notable news

The average weekly price growth across all stocks in the Direxion Daily Real Estate Bull 3X ETF ETF was 8%. For the same ETF, the average monthly price growth was 29%, and the average quarterly price growth was 1%. ARE experienced the highest price growth at 12%, while DLR experienced the biggest fall at -2%.

Volume

The average weekly volume growth across all stocks in the Direxion Daily Real Estate Bull 3X ETF ETF was -7%. For the same stocks of the ETF, the average monthly volume growth was 3% and the average quarterly volume growth was 34%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 62
P/E Growth Rating: 48
Price Growth Rating: 47
SMR Rating: 79
Profit Risk Rating: 73
Seasonality Score: 26 (-100 ... +100)
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A.I. Advisor
published General Information

General Information

Category Trading

Profile
Fundamentals
Details
Category
Trading--Leveraged Equity
Address
Direxion Shares ETF Trust33 Whitehall Street,10th FloorNew York
Phone
866-476-7523
Web
http://www.direxioninvestments.com/
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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.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To DRN
1D Price
Change %
DRN100%
-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%