DIREXION DLY S&P 500 BEAR 1X (SPDN) Stock Technical Analysis
NYSEARCA:SPDN • US25460E8690
We assign a technical rating of 1 out of 10 to SPDN. SPDN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 76% of all other stocks performed better in the past year than SPDN.
- SPDN is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- SPDN has an average volume of 29490800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month SPDN has a been trading in a tight range between 9.28 and 9.59.
Although the technical rating is bad, SPDN does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 9.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 9.45, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SPDN in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
9.17
When analyzing the support we notice one important area.
- A support zone ranging from 9.26 to 9.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 9.52 to 9.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @9.90 from a horizontal line in the daily time frame.
- Resistance @12.92 from a horizontal line in the weekly time frame.
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 | DOWN | NEGATIVE | The long term trend for SPDN is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SPDN is neutral. |
| ChartMill Relative Strength | 24.09 | NEGATIVE | SPDN has a low relative strength, it was outperformed by 75.91% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SPDN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of SPDN is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SPDN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.72 | NEUTRAL | The RSI value for SPDN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests SPDN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 41.11 | NEUTRAL | The Stochastics value for SPDN is a neutral value. |
| Average True Range in percent/ATR (20) | 1.3 | LOW VOLATILITY | The low ATR as a percentage value for SPDN suggests low volalility. |
| Average Directional Index/ADX (14) | 14.2 | NEGATIVE | The low ADX value for SPDN suggests a weak or negative trend. |
9.46
+0.04 (+0.42%)
DIREXION DLY S&P 500 BEAR 1X / SPDN FAQ
What is the ChartMill technical rating of DIREXION DLY S&P 500 BEAR 1X (SPDN) stock?
ChartMill assigns a technical rating of 1 / 10 to SPDN.
What is the trend direction for SPDN stock?
The current trend direction for DIREXION DLY S&P 500 BEAR 1X (SPDN) is Bearish.
Can you provide the RSI signal for DIREXION DLY S&P 500 BEAR 1X?
DIREXION DLY S&P 500 BEAR 1X (SPDN) has an RSI value of 52.7205. This indicates that the stock is currently neutral.
What are the support and resistance levels for DIREXION DLY S&P 500 BEAR 1X (SPDN) stock?
DIREXION DLY S&P 500 BEAR 1X (SPDN) has a support level at 9.45 and a resistance level at 9.52. Check the full technical report for our detailed analysis of SPDN support and resistance levels.