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GGLL Stock Tickeron detected bearish ETF Pattern: Head-and-Shoulders Top GGLL on September 03, 2024, netting in a 15.02% gain over 7 days

A.I.dvisor
at Tickeron.com
09/08/24
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+15.02% Gain from a Successful pattern Head-and-Shoulders Top
GGLL - Direxion Daily GOOGL Bull 2X Shares
Ticker: GGLL
Company: Direxion Daily GOOGL Bull 2X Shares
Gain from shortening: +15.02%
Confirmed: 09/03/24
Succeeded: 09/06/24
Total length: 7 days
On August 30, 2024, A.I.dvisor detected a Head-and-Shoulders Top Pattern (Bearish) for Direxion Daily GOOGL Bull 2X Shares (GGLL, $36.76). 4 days later, on September 03, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On September 06, 2024, the stock hit the target price of $33.07 – resulting in a +1 gain for traders who shorted the stock on the pattern detection date.

Momentum Indicator for GGLL turns negative, indicating new downward trend

GGLL saw its Momentum Indicator move below the 0 level on August 30, 2024. 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 36 similar instances where the indicator turned negative. In of the 36 cases, the stock moved further down in the following days. The odds of a decline are at .

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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/