ERY Stock Direxion Daily Energy Bear 2X ETF (ERY, $22.75) Moving Average Convergence Divergence (MACD) Histogram turned positive on October 17, 2024

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ERY - Direxion Daily Energy Bear 2X ETF

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Odds of UP Trend

Price: $22.75

Daily change: -$0.23 (-1%)

Daily volume: 285.6K

Net Assets: $23.3M

ERY's RSI Oscillator ascending out of oversold territory

The RSI Oscillator for ERY moved out of oversold territory on October 08, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 38 similar instances when the indicator left oversold territory. In of the 38 cases the stock moved higher. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on October 16, 2024. You may want to consider a long position or call options on ERY as a result. In of 84 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 October 17, 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 .

The 50-day moving average for ERY moved above the 200-day moving average on September 27, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ERY advanced for three days, in of 287 cases, the price rose further within the following month. The odds of a continued upward trend are .

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

Bearish Trend Analysis

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

ERY moved below its 50-day moving average on October 01, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for ERY crossed bearishly below the 50-day moving average on October 03, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

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 .

The Aroon Indicator for ERY entered a downward trend on October 16, 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.