Can This Stock Hold the Traction? Gapping up Pre-Bell: Direxion Daily Technology Bull 3X ETF

Direxion Daily Technology Bull 3X ETF (:TECL) is gapping higher befor market open as it moved 3.61% pre-bell.  With the move the stock is currently valued at $81.73.There are many factors that may influence stock price action. One of the most influential factors is company earnings. Company earnings reports can be extremely important for investors. Earnings reports have the ability to let investors know how well or poorly a company has been performing. Investors may try to capitalize on trading around earnings announcements. This can be a very tricky venture and may be quite risky. Studying stock price movements around earnings reports can sometimes be confusing. Often times a company will post better than expected numbers but the stock will drop in price. On the other side, shares may see a bounce even after disappointing results. Analysts try to project what numbers the company will post, but they may not be accurate for a variety of reasons. Following analyst estimates around earnings reports may be helpful, but it may be wise to proceed with caution if only going on what the analysts are saying.

At the time of writing, the stock was trading at $81.73. This represents a change from the opening price of -1.83%. In terms of performance, year to date, the stock is 60.89%. The monthly stock performance comes in at 7.58%. For the quarter, shares are performing at 23.44%. Weekly performance analysis shows the equity at 8.10%.

In taking a look at technical levels, shares are trading 7.17% away from the 50 day simple moving average and 33.49% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -2.16% away from it’s 52- week high and 100.91% away from its 52 week low. 

As of writing, Direxion Daily Technology Bull 3X ETF’s RSI stands at 65.02. In looking at volatility levels, the shares saw weekly volatility of 1.96% and 2.94% over the past month.

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