NUGT Stock Tickeron detected bearish ETF Pattern: Cup-and-Handle Inverse NUGT on November 05, 2024, netting in a 17.74% gain over 4 weeks

GET DAILY SIGNALS

Get AI intraday signals

NUGT - Direxion Daily Gold Miners Bull 2X ETF

Ticker: NUGT

Company: Direxion Daily Gold Miners Bull 2X ETF

Gain from shortening: +17.74%

Confirmed: 11/05/24

Succeeded: 11/11/24

Total length: 28 days

Momentum Indicator for NUGT turns negative, indicating new downward trend

NUGT saw its Momentum Indicator move below the 0 level on October 31, 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 86 similar instances where the indicator turned negative. In of the 86 cases, the stock moved further down in the following days. The odds of a decline are at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for NUGT turned negative on October 29, 2024. 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 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .

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

The 10-day moving average for NUGT crossed bearishly below the 50-day moving average on November 11, 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 NUGT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

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

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