Direxion FTSE China Bull 3X (YINN) AroonUp Indicator Showing Strength

Angelo Anderson
February 24, 2018

Shares of Direxion Daily S&P Biotech Bull 3X Shares (NYSEARCA:LABU) traded up $3.97 on Friday, reaching $95.52. The NYSE listed company saw a recent bid of 22.45 and 632577 shares have traded hands in the session.

With the stock market trading at current levels, investors may be tossing around ideas about how to trade the next few quarters. Stocks can be exposed to both market risk and business or financial risk. Proper stock market knowledge may take a long time to acquire. Investors may try to limit this risk by creating a diversified portfolio including stocks from different sectors.

Diving into some additional numbers, presently, Direxion FTSE China Bull 3X (YINN) has a 14-day Commodity Channel Index (CCI) of -6.20. The Williams %R oscillates in a range from 0 to -100. Positive BOP reading is an indication of buyers' dominance and negative BOP reading is a sign of the stronger selling pressure. Alternately, if the indicator goes below -80, this may point to the stock being oversold. CCI is an indicator used in technical analysis that was designed by Donald Lambert. Envestnet Asset Management Inc. raised its holdings in Direxion Daily Financial Bull 3X Shares by 74.0% in the 3rd quarter. On the flip side, an RSI near 0 may signal weaker momentum. The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. The ATR is an indicator developed by J. Welles Wilder. The RSI may be useful for spotting abnormal price activity and volatility. The Williams %R oscillates in a range from 0 to -100. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. The RSI is considered to be an internal strength indicator, not to be confused with relative strength which is compared to other stocks and indices.

Tracking other technical indicators, the 14-day RSI is presently standing at 55.95, the 7-day sits at 61.68, and the 3-day is resting at 79.95. At the time of writing, the 14-day ADX for Direxion S&P Oil & Gas Expl Bull 3X (GUSH) is noted at 32.94. When the indicator stays above zero for a sustained period of time, especially with increasing indicator values, it shows a strong uptrend. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength.

Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX.

For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is now at 241.17, the 50-day is 330.85, and the 7-day is resting at 320.54. MA's can be calculated for any time period, but two very popular time frames are the 50-day and 200-day moving averages. Moving averages can be used to help filter out the day to day noise created by other factors.

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