US markets ended mostly higher on Friday as financials gained amid the start of the quarterly reporting season
Direxion Daily Gold Miners Bull 3X ETF (:NUGT) performed nicely this week, continuing its impressive near-term upward movement. The stock has moved north 4.75% over the past week of trading.
Looking further out, over the past twelve months, Direxion Daily Gold Miners Bull 3X ETF’s stock was 131.17% and -22.83% over the last quarter and -68.67% for the past six months.
There are many reasons why a stock might advance so much, so quickly. The total market, including country, continent, or global, might have gone up due to macro reasons. The company might have reported better than expected (consensus) earnings results. A sell-side firm might have issued a buy report on the company. The company might have announced a major change in the business, such as a buyout, M&A, spin-off, R&D results or the acquisition of a new large client. The company might have announced its involvement in a lawsuit. The company might have changed its yearly guidance. The institutional investors might have bought a large chunk of stocks of the company.
Over the past 50 days, Direxion Daily Gold Miners Bull 3X ETF (:NUGT) stock was -41.41% off of the high and 76.04% removed from the low. Their 52-Week High and Low are noted here. -72.90% (High), 178.74%, (Low).
Direxion Daily Gold Miners Bull 3X ETF (:NUGT) may have great momentum, but how has it been performing relative to the market? The stock’s price is $9.70 and their relative strength index (RSI) stands at 60.77. RSI is a technical oscillator that shows price strength by comparing upward and downward movements. It indicates oversold and overbought price levels for a stock.
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals. This is not a recommendation to buy or sell Direxion Daily Gold Miners Bull 3X ETF (:NUGT).