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ERX
ETF ticker: NYSE ARCA
AS OF
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Net Assets
345.12M

ERX Direxion Daily Energy Bull 2X ETF Forecast, Technical & Fundamental Analysis

Category Trading
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for ERX with price predictions
07:00 PM EST Dec 07, 2023

Momentum Indicator for ERX turns negative, indicating new downward trend

ERX saw its Momentum Indicator move below the 0 level on December 04, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 96 similar instances where the indicator turned negative. In of the 96 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for ERX turned negative on December 06, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 40 similar instances when the indicator turned negative. In of the 40 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ERX 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 ERX entered a downward trend on December 08, 2023. 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 Oscillator points to a transition from a downward trend to an upward trend -- in cases where ERX's RSI Oscillator exited the oversold zone, of 29 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ERX advanced for three days, in of 340 cases, the price rose further within the following month. The odds of a continued upward trend are .

ERX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed
A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are Exxon Mobil Corp (NASDAQ:XOM), Chevron Corp (NASDAQ:CVX), ConocoPhillips (NASDAQ:COP), Schlumberger Limited (NASDAQ:SLB), EOG Resources (NASDAQ:EOG), MARATHON PETROLEUM Corp (NASDAQ:MPC), Phillips 66 (NASDAQ:PSX), Pioneer Natural Resource Co (NASDAQ:PXD), Occidental Petroleum Corp (NASDAQ:OXY), Hess Corp (NASDAQ:HES).

Industry description

The investment seeks daily investment results of 200% of the daily performance of the Energy Select Sector Index. The index is provided by S&P Dow Jones Indices and includes domestic companies from the energy sector which includes the following industries: oil, gas and consumable fuels; and energy equipment and services. The fund invests at least 80% of its net assets 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 which provide returns consistent with the objective. It is non-diversified.

Market Cap

The average market capitalization across the Direxion Daily Energy Bull 2X ETF ETF is 81.43B. The market cap for tickers in the group ranges from 11.15B to 411.63B. XOM holds the highest valuation in this group at 411.63B. The lowest valued company is APA at 11.15B.

High and low price notable news

The average weekly price growth across all stocks in the Direxion Daily Energy Bull 2X ETF ETF was -7%. For the same ETF, the average monthly price growth was -2%, and the average quarterly price growth was 0%. KMI experienced the highest price growth at -0%, while EQT experienced the biggest fall at -8%.

Volume

The average weekly volume growth across all stocks in the Direxion Daily Energy Bull 2X ETF ETF was 15%. For the same stocks of the ETF, the average monthly volume growth was -10% and the average quarterly volume growth was 27%

Fundamental Analysis Ratings

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

Valuation Rating: 56
P/E Growth Rating: 48
Price Growth Rating: 53
SMR Rating: 41
Profit Risk Rating: 45
Seasonality Score: 35 (-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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ERX and

Correlation & Price change

A.I.dvisor indicates that over the last year, ERX has been loosely correlated with SSO. These tickers have moved in lockstep 42% of the time. This A.I.-generated data suggests there is some statistical probability that if ERX jumps, then SSO could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To ERX
1D Price
Change %
ERX100%
+2.11%
SSO - ERX
42%
Loosely correlated
+0.83%
SPXL - ERX
42%
Loosely correlated
+1.20%
SOXL - ERX
19%
Poorly correlated
+2.24%
TQQQ - ERX
19%
Poorly correlated
+1.20%
QLD - ERX
19%
Poorly correlated
+0.78%