A Run Through Direxion Daily S&P 500 Bull 3X Shares (SPXL)'s Technicals

The NYSE listed company saw a recent bid of $131.63 and 142241 shares have traded hands in the session.

Investors may be searching for various types of stocks to help diversify the portfolio. Direxion Small Cap Bull 3X Shares has a one year low of $31.36 and a one year high of $60.28. They may also be used to help the trader figure out proper support and resistance levels for the stock. Starting from the top-down typically includes studying the overall economy, industries, and multiple markets.

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Index). The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. A reading between 0 and -20 would point to an overbought situation. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. As the momentum builds, we will be closely watching to see if they cross into Overbought territory.

Taking a look at another technical level, Ford Otomotiv Sanayi AS (FOVSY) presently has a 14-day Commodity Channel Index (CCI) of -44.27. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action. A CCI reading closer to +100 may indicate more buying (possibly overbought) and a reading closer to -100 may indicate more selling (possibly oversold). The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. The RSI, or Relative Strength Index, is a commonly used technical momentum indicator that compares price movement over time. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book "New Concepts in Technical Trading Systems". The RSI may be useful for spotting abnormal price activity and volatility. Normal oscillations tend to stay in the range of -100 to +100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

More notable recent Direxion Daily Large Cap Bear 3X Shares (NYSEARCA:SPXS) news were published by: Investorplace.com which released: "Direxion Daily Small Cap Bear 3X Shares (TZA): The Quick Guide to TZA" on September 18, 2017, also Investorplace.com with their article: "Direxion Shares Exchange Traded Fund Trust (JDST): The Quick Guide to JDST" published on September 14, 2017, Investorplace.com published: "Direxion Daily S&P Biotech Bear 3X Shares (LABD): The Quick Guide to LABD" on May 08, 2017. At the time of writing, the 14-day ADX for Direxion Daily S&P 500 Bull 2X Shares (SPUU) is noted at 15.94. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend.

Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The ADX is used to measure trend strength.

Traders may be narrowing in on the ATR or Average True Range indicator when reviewing technicals. Taking a glance at the relative strength indictor, we note that the 14-day RSI is now at 56.13, the 7-day stands at 48.77, and the 3-day is sitting at 24.04. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time.

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