ERX Stock Tickeron detected bullish ETF Pattern: Head-and-Shoulders Bottom ERX on October 01, 2024, netting in a 20.22% gain over 1 month

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ERX - Direxion Daily Energy Bull 2X ETF

Ticker: ERX

Company: Direxion Daily Energy Bull 2X ETF

Gain: +20.22%

Confirmed: 10/01/24

Succeeded: 11/20/24

Total length: 56 days

Momentum Indicator for ERX turns positive, indicating new upward trend

ERX saw its Momentum Indicator move above the 0 level on November 06, 2024. 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 97 similar instances where the indicator turned positive. In of the 97 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 ERX just turned positive on November 06, 2024. Looking at past instances where ERX's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .

ERX moved above its 50-day moving average on November 04, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for ERX crossed bullishly above the 50-day moving average on November 06, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 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 ERX advanced for three days, in of 351 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 11 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 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 .

ERX broke above its upper Bollinger Band on November 06, 2024. 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.