DIREXION DAILY ENERGY BULL 2 (ERX) Stock Technical Analysis
NYSEARCA:ERX - NYSE Arca - US25460G6098 - ETF - Currency: USD
We assign a technical rating of 3 out of 10 to ERX. In the past year, ERX was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
When comparing the yearly performance of all stocks, ERX is a bad performer in the overall market: 76% of all stocks are doing better.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month ERX has a been trading in the 46.60 - 55.69 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
ERX is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ERX is lagging the market slightly.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The technical rating of ERX is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
46.02
68.29
When analyzing the support we can see 3 important areas.
- A support zone ranging from 48.61 to 48.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 47.37 to 47.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @46.48 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- Resistance @58.97 from a trend line in the weekly time frame.
- Resistance @62.87 from a trend line in the daily time frame.
- Resistance @64.45 from a horizontal line in the daily time frame.
- A resistance zone ranging from 66.61 to 67.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for ERX is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ERX is up. |
| ChartMill Relative Strength | 24.8 | NEGATIVE | ERX has a low relative strength, it was outperformed by 75.2% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ERX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ERX is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ERX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 66.51 | NEUTRAL | The RSI value for ERX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.76 | POSITIVE | The MACD value suggests ERX has a positive trend. |
| Stochastics (14,3) | 97.14 | OVERBOUGHT | The high Stochastics value suggests ERX may be overbought. |
| Average True Range in percent/ATR (20) | 3.23 | MEDIUM VOLATILITY | The ATR as a percentage value for ERX suggests some volalility. |
| Average Directional Index/ADX (14) | 19.06 | NEGATIVE | The low ADX value for ERX suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
55.18
+1.88 (+3.53%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg3.53%
1 Week11.63%
2 Weeks16.46%
1 Month5.2%
3 Month-7.62%
6 Month-8.13%
12 Month-8.49%
2 Year0.84%
3 Year17.55%
5 Year265.67%
10 Year-89%
15 Year-76.65%
Volatility
ATR(14)1.86
ATR(20)%3.23%
ATR Inc11.39%
Range Today1.92
ADR(20)1.59
ADR(20)%2.89%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS24.8
Mansfield-1.07
10 Day High55.69
10 Day Low47.5
20 Day High55.69
20 Day Low46.6
52 Week High72.63
52 Week Low40.6
CS1 End48.64
CR1 Start58.97
Volume & EV
DER(3)2.38%
DER(5)1.21%
Volume1.13M
Volume Incr81.22%
Vol(5)598.60K
Vol(50)429.58K