(DRN) Technical Pivots with Risk Controls

December 24, 2024, 09:48 am ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for DRN

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short DRN slightly under 10.4, target n/a, stop loss @ 10.43 Details

The technical summary data is suggesting a short of DRN as it gets near 10.4, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 10.43. 10.4 is the first level of resistance above 9.8, and by rule, any test of resistance is a short signal. In this case, if resistance 10.4 is being tested, so a short signal would exist.

Swing Trading Plans for DRN

• Buy DRN slightly over 10.04, target 10.4, Stop Loss @ 10.01 Details

If 10.04 begins to break higher, the technical summary data tells us to buy DRN just slightly over 10.04, with an upside target of 10.4. The data also tells us to set a stop loss @ 10.01 in case the stock turns against the trade. 10.04 is the first level of resistance above 9.8, and by rule, any break above resistance is a buy signal. In this case, 10.04, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DRN slightly near 10.04, target 9.23, Stop Loss @ 10.07. Details

The technical summary data is suggesting a short of DRN if it tests 10.04 with a downside target of 9.23. We should have a stop loss in place at 10.07 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 10.04, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for DRN

• Buy DRN slightly over 10.04, target 10.4, Stop Loss @ 10.02 Details

If 10.04 begins to break higher, the technical summary data tells us to buy DRN just slightly over 10.04, with an upside target of 10.4. The data also tells us to set a stop loss @ 10.02 in case the stock turns against the trade. 10.04 is the first level of resistance above 9.8, and by rule, any break above resistance is a buy signal. In this case, 10.04, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DRN slightly near 10.04, target 9.6, Stop Loss @ 10.06. Details

The technical summary data is suggesting a short of DRN if it tests 10.04 with a downside target of 9.6. We should have a stop loss in place at 10.06 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 10.04, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Direxion Daily Real Estate Bull 3x Shares (DRN) available here: DRN.

DRN Ratings for December 24:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	10.4
P2	8.83	9.23	12.24
P3	9.6	10.04	14.14

AI Generated Signals for DRN

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

The technical pivots for Direxion Daily Real Estate Bull 3x Shares (NYSE: DRN) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for DRN change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if DRN is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for DRN too.  All of these are offered below the Summary Table.