ERY Direxion Daily Energy Bear 2X ETF Forecast, Technical & Fundamental Analysis

ERY in +7.67% Uptrend, growing for three consecutive days on December 19, 2024

Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where ERY advanced for three days, in of 285 cases, the price rose further within the following month. The odds of a continued upward trend are .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on December 02, 2024. You may want to consider a long position or call options on ERY as a result. In of 83 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 ERY just turned positive on November 27, 2024. Looking at past instances where ERY's MACD turned positive, the stock continued to rise in of 38 cases over the following month. The odds of a continued upward trend are .

ERY moved above its 50-day moving average on December 06, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for ERY crossed bullishly above the 50-day moving average on December 12, 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 .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 8 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.

The 50-day moving average for ERY moved below the 200-day moving average on November 20, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ERY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

ERY broke above its upper Bollinger Band on December 18, 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.

The Aroon Indicator for ERY entered a downward trend on December 04, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.